Benin Republic’s international bond prices dipped on Monday after an attempted coup on Sunday, December 7.
President Patrice Talon announced that government forces had successfully thwarted a coup by a group of soldiers.
Data from Tradeweb showed that dollar-denominated bonds slipped around 1.5 cents on the dollar, with the 2052 maturity falling as much as 1.8 cents to bid at 88.04 cents on the euro.
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Longer-dated bonds, including those maturing in 2038 and beyond, later trimmed losses to just over one cent each.
READ ALSO: Benin Requested Nigerian Air, Ground Support During Failed Coup Attempt – Presidency
Sunday’s coup attempt adds to a series of recent threats to democratic governance in West Africa, following military takeovers in Niger, Burkina Faso, Mali, Guinea, and Guinea-Bissau.
The Nigerian government deployed air force fighter jets to support Talon’s administration, while the Economic Community of West African States (ECOWAS) ordered the immediate deployment of its standby force to Benin, including troops from Nigeria, Sierra Leone, Ivory Coast, and Ghana.
ECOWAS condemned the coup attempt, urging full respect for Benin’s constitution, and commended the government and Republican Army for restoring control over the situation.
