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ABIDJAN, May 29 (Reuters) - Ivory Coast, Africa's fastest growing economy last year, will issue a $1 billion Eurobond next month, Finance Minister Adama Kone told Reuters on Monday, as it deals with budget pressure caused by falling cocoa prices and unrest in the army.
"Everything will be finalised this week," Kone said on the sidelines of a conference in the main city of Abidjan. "The amount decided upon is $1 billion. The launch is planned for next month."
Ivory Coast, the world's top cocoa producer, has emerged from a decade-long political crisis, capped by a 2011 civil war, as one of the continent's most attractive international investment destinations.
French-speaking West Africa's largest economy, it is rated Ba3 by Moody's and B+ by Fitch, both with stable outlooks.
However, a steep decline in cocoa futures in New York and London this year have put a squeeze on revenues at a time when the government has been forced to pay out around $170 million in bonuses to end successive waves of army mutinies.
The resulting budget shortfall has forced the government to trim this year's budget and seek more funding from international partners including the International Monetary Fund and the World Bank. (Reporting by Loucoumane Coulibaly; Writing by Joe Bavier; Editing by Tim Cocks)