May 15, 2017 / 2:20 PM / 4 months ago

Ivory Coast dollar bonds fall around 1 cent on unrest

LONDON, May 15 (Reuters) - Ivory Coast’s dollar-denominated bonds fell on Monday as two of the country’s biggest cities were hit by gunfire and fighting, with the military pressing to crush a nationwide army mutiny over bonuses.

Data from Tradeweb showed that bonds maturing in 2024 fell 0.8 cent in price to a three-week low while the 2028 issue lost 1.2 cent to hit its lowest level in 10 days.

Ivorian soldiers are revolting over delayed bonus payments promised by the government after a mutiny in January but not fully paid as a collapse in the price of cocoa, Ivory Coast’s main export, caused a revenue crunch. (Reporting by Sujata Rao)

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