Investor Presentaiton
COTE D'IVOIRE INVESTOR MEETING
Finally, the Ivorian Authorities Were Not in a Position to Make an Offer to
Bondholders that Would Rely on a Realistic Financial Framework (cont'd)
■ The authorities had no other choice but to announce to private creditors, in their November 18 communiqué, their decision to
postpone the offer
■Cote d'Ivoire will only be in a position to make a firm offer to bondholders based on a financial framework assessed by the IMF once
completion point is in sight
Before that, the authorities don't want to take the risk of over-committing
■ Cote d'Ivoire wishes to reach completion point as soon as possible thanks to the strong support of all its external partners
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The first review of the IMF Program will take place in April 2012 and the remaining completion point "triggers" are close to being
met (notably the reform of the cocoa-coffee sector reform)
In principle, completion point could be reached at the end of H1 2012, though the IMF is betting on early H2 2012 in its
November report
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