Cote d'Ivoire

While Cote d’Ivoire is one of the wealthiest countries in tropical Africa, the country suffered its first military uprising in 1991 as groups fought for control of the government. Robert GUEI, the ruler of the junta, was quickly overthrown and replaced by his runner-up Laurent GBAGBO. In 2003, rebel groups were given ministerial positions in a unity government, after they took over the northern part of the country. After a standoff of three months, the GBAGBO regime and rebel groups started again to work on the peace accord, but no solution has been reached. Troops from France and West Africa have been provided to help with disarmament, demobilization, rehabilitation, and to keep peace.

Main Airports

Abidjan (ABJ) (Félix Houphouët-Boigny), Yamoussoukro (ASK) (San Pedro)

U.S. Embassy

Riveria Golf, Cocody, Abidjan, Cote d'Ivoire
tel. 225. 22-49-4000

Statistics

GDP: purchasing power parity:

$28.52 billion (2005 est.)

GDP - real growth rate:

1% (2005 est.)

GDP - per capita: purchasing power parity:

1,600 (2005 est.)

Inflation rate (consumer prices):

3.9% (2005 est.)

Labor force:

6.95 million (68% agricultural) (2005 est.)

Exports:

$6.49 billion f.o.b. (2005 est.)

Exports - partners:

France 18.3%, US 14.1%, Netherlands 11%, Nigeria 8%, Panama 4.4% (2005)

Imports:

$4.759 billion f.o.b. (2005 est.)

Imports - partners:

France 27.7%, Nigeria 24.5%, Singapore 6.6% (2005)

Population:

17,654,843 (July 2006 est.)

Population growth rate:

2.03% (2006 est.)

Population Below Poverty Line:

37% (1995)

Major Industries:

foodstuffs, beverages; wood products, oil refining, truck and bus assembly, textiles, fertilizer, building materials, electricity, ship construction and repair

Employing Workers: 133*

Registering Property: 101*

Enforcing Contracts: 92*

Closing a Business: 68*

*2006 World Bank rank out of 175 countries

Starting a Business

The table below shows the number of steps and the amount of time needed to start a business, on average

Indicator	Cote d'Ivoire	Region
Procedures (number)	11	11.1
Time (days)	45	61.8

Cote d'Ivoire Risk Assessment

Country Rating

Rating: D

A high-risk political and economic situation and an often very difficult business environment can have a very significant impact on corporate payment behaviour. Corporate default probability is very high.

Risk Assessment

The political situation remains uncertain despite significant progress that resulted in the March 2007 Ouagadougou Accords concluded between the President Laurent Gbagbo and the representative of the New Rebel Forces Guillaume Soros. Based on the accords, an interim government was set up under Soros' leadership. Symbolic acts of reconciliation (incineration of weapons) raised hopes of real pacification after the many failed attempts at mediation in the past. The process of disbanding the militias has stalled, however, and country's reunification seems likely to suffer further delays. These uncertainties are associated with the stumbling pace of the process of identifying the population — a central rebel demand and a prerequisite to holding free and democratic elections by year end as planned. In this context, a resurgence of acts of violence remains possible.

The economy proved to be relatively resilient to the civil war with the country posting positive growth since 2004 even if it remains well below the sub-Saharan African average of six per cent. It should nonetheless exceed three per cent in 2008, driven by the increase in gas and oil production and development of the telecommunications sector.


Under execution of budgeted spending has contributed since 2006 to the emergence of a fiscal surplus while firm world gas, oil, and cocoa prices have allowed the country to run a trade surplus and it could ultimately benefit from partial cancellation of its foreign debt and the resumption of concessional loans. And the government has already concluded a post-conflict emergency assistance agreement that could lead to agreement on a Poverty Reduction and Growth Facility, the IMF's special low-interest lending programme for poor countries. A so-called PRGF is prerequisite to any debt relief granted under the HIPC programme for highly indebted poor countries. Relations with multilateral financial backers have been strained, however, due to poor governance. And despite the issuance of eurobonds to discharge the debt, the country has accumulated arrears to public creditors.

STRENGTHS

• The country's agricultural and mining potential is among the highest in West Africa.
• The country boasts a developed processing industry and good infrastructure (transport, financial services, telecommunications).
• Despite a gridlocked political situation, its membership in UMOA, the West Africa Monetary Union, constitutes an element of stability.

• The civil war that broke out in March 2002 and the continuing political instability since then have resulted in deteriorated living conditions, dilapidated infrastructure, and a bloated informal economy.
• This context has generated considerable extra costs for companies and impeded an economic recovery.
• The ongoing political crisis has jeopardised the role of Ivory Coast as a regional economic hub (finance, transit, commercial base) and undermined investor interest in the country.
• The business environment remains marked by many weaknesses including security and shipping costs, trafficking and racketeering.

• Agriculture
• Apparel
• Arts & Crafts
• Automobile
• Bags, Cases & Boxes
• Chemicals
• Computer Hardware & Software
• Construction & Real Estate
• Consumer Electronics
• Electrical & Electronics
• Energy & Environment
• Food & Beverage
• Furniture & Furnishing
• Health & Medicine
• Home Supplies
• Industrial Supplies
• Lights & Lighting
• Machinery
• Mineral & Materials
• Office Supplies
• Security & Protection
• Service
• Sports & Entertainment
• Telecommunications
• Textile
• Toys
• Transportation