Ivory Coast Defaults on Eurobonds, Pledges to Pay
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Ivory Coast reneged on $2.3 billion of Eurobonds, becoming the first nation to default in a year. President Laurent Gbagbo’s government pledged to pay creditors, without specifying a date.
“We will be making the payment,” Alcide Djedje, foreign affairs minister in Gbagbo’s administration, said in an interview in Addis Ababa, where he’s attending an African Union meeting. “We do have the money of course. We have been paying civil servants. I don’t have a date yet but we will definitely pay.”