Economic and Fiscal Update

A Prudent Approach to Debt Management (2/2) The currency mix is balanced between USD and EUR/CFA. The debt mix reflects a higher but manageable share of international capital markets debt. Currency Breakdown (% of 2014 outstanding public debt) 3% Yearly Interest Rate (%) and Maturity in Years 10% 6% 48% 33% 2011 2012 2013 2014 Maturity Interest Maturity in Years Rate in % in Years Interest Rate in % Maturity in Years Interest Rate in % Maturity in Years Interest Rate in % Total Debt 7.88 4.48% 3.95 7.74% 9.02 3.79% 8.68 3.74% External Debt 8.11 4.62% 7.96 4.09% 9.87 3.91% 9.2 3.83% Internal Debt 2.32 1.16% 2.32 1.16% 1.95 2.8% 1.71 2.69% ■ USD EUR ■CNY ■CFA Others External Debt 2008 vs. 2014 (% external debt) 2008 International Capital Markets 43% O Commercial Debt 16% Paris Club Debt 16% Other Bilateral Debt Multilateral Debt 15% 10% Sources: Ministry of Economy, Promotion of Investments and Prospective 2014 International Capital Markets 38% Paris Club Debt 2% Other Bilateral Debt 22% Commercial Debt Multilateral 24% Debt 14% 12

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