Trending 
Benin’s international bonds dropped on Monday following Sunday’s attempted military coup.
President Patrice Talon announced that government forces had foiled the plot, which was allegedly orchestrated by a group of soldiers.
Tradeweb data indicated that the country’s dollar-denominated bonds fell by about 1.5 cents on the dollar, with the 2052 maturity losing up to 1.8 cents to trade at 88.04 cents on the euro.
According to Reuters, longer-term bonds recorded the biggest initial losses but later recovered slightly, with securities maturing from 2038 onwards down just over one cent each.
The attempted coup adds to a series of recent threats to democracy in West Africa, following military takeovers in Niger, Burkina Faso, Mali, Guinea and Guinea-Bissau.
Nigeria deployed air force fighters in support of President Talon, while ECOWAS ordered the immediate deployment of part of its standby force, including troops from Nigeria, Sierra Leone, the Ivory Coast, and Ghana.
The regional bloc also condemned the coup attempt, urging full respect for Benin’s constitution and praising the efforts of the government and the Republican Army in restoring stability.
