Benin’s public debt management is assessed against a backdrop of gradual fiscal consolidation, with its debt-to-GDP ratio stabilizing between 2023 and 2024 and a robust legal framework in place. Completed by Social Watch Bénin, the module highlights several notable strengths: the regular publication of the Medium-Term Debt Strategy, systematic integration of the annual borrowing strategy into the budget bill, and a comprehensive annual debt management report published by the Autonomous Debt Management Fund (CAGD). However, persistent structural limitations are identified, including gaps in information on the use of borrowed funds, non-publication of loan contracts, partially constrained parliamentary oversight following the 2019 constitutional reform, absence of debt audits by the Court of Auditors, and weak institutionalization of citizen participation in debt decisions. Benin is not classified as being in debt distress, holding a B+ stable rating from Fitch, but accountability gaps require targeted reform.
Note: This report is written in French.