Sonara holds 83.2% of public enterprises’ external debt as of September 2023

Four public enterprises held a combined debt of FCFA511 billion with external creditors as of September 30, 2023, according to figures reported by the national sinking fund (CAA). “This debt is up 1.4% on the previous month and 1.0% quarter-on-quarter, compared with a year-on-year fall of 8.2%,” says CAA. The national refinery corporation Sonara alone carried an outstanding amount of FCFA 425.5 billion from its foreign suppliers, representing 83.2% of the total outstanding debt. Compared with the previous month when the company’s outstanding external debt was FCFA418.6 billion, this marked an increase of FCFA6.9 billion. The CAA’s document did not…