In the LIC-DSA framework Côte d’Ivoire is classified as having weak policy performance with a Country Policy and Institutional Assessment (CPIA) average of 3.24 for the period 2013–15 (http://databank.worldbank.org/data/download/CPIA_excel.zip). With the progress in the CPIA score (the 3-year average for the period 2012–14 stood at 3.17), Côte d’Ivoire is on the cusp of a medium policy performance category, which would raise from 30 to 40 percent the threshold of the PV of external debt-to-GDP ratio, from 100 to 150 the threshold for the PV of external debt-to-exports ratio, and from 200 to 250 the threshold for the PV of external debt-to-revenue ratio. In addition, the threshold for the external debt service-to-exports ratio would raise from 15 to 20 percent, and the threshold for the external debt service-to-revenues ratio would raise from 18 to 20 percent.
In this DSA, PPG external debt covers only the central government. It excludes French claims under C2D debt-for-development swaps, which were cancelled in the context of beyond HIPC debt relief. Under the C2D mechanism, debt service due on these claims is returned in the form of grants to the government to finance development projects. In the staff report the flows associated with the C2D process are included in the external and fiscal accounts to capture the gross cash flows (debt service and grants). See IMF Country Report nº14/358 and Supp.1, 11/21/2014 for a detailed discussion.
During the 2017–22 horizon, inflation pressures are expect