Minister in Talon governments (2016–2025) On 7 April 2016, Wadagni was appointed Minister of Economy and Finance in the first
Talon government. Faced with a country weakened by
debt, Wadagni made the consolidation of
public finances his priority, in order to make Benin credible to international public and private donors. He promoted a proactive debt management policy and made successful exits on the international
financial market. The credibility gained by honoring its commitments allowed the country to borrow on a very long-term basis and at rates lower than other countries in the region, such as
Ivory Coast and
Senegal. In October 2018, Wadagni completed a €260 million loan for Benin on the international markets. This was a first for the country. During the
COVID-19 pandemic,
Benin's economy showed resilience. Benin was among the three countries with the highest growth rate in
sub-Saharan Africa in 2020 (about 3.8%), with a rebound to 7.2% in 2021 and an estimated average of 6.4% over the 2022-2026 period. Wadagni also worked to promote the private sector and entrepreneurship. In 2020, Benin became the foremost country for ease and speed of creating a new business according to the
United Nations Conference on Trade and Development (UNCTAD). On 12 January 2021, Benin issued two
Eurobonds. The first, for 11 years, was at a rate of 4.9%, for an amount of €700 million. A second, over 31 years, was with a rate of 6.9%, for an amount of €300 million. With this operation, Benin joined the limited number of emerging issuers to have a euro-denominated Eurobond with a maturity of more than 30 years. In July 2021, Benin carried out a major operation by becoming the first African country to issue a Eurobond dedicated to the financing of projects with a high impact on the achievement of the United Nations Sustainable Development Goals, for an amount of 328 billion
CFA francs (€500 million) and an interest rate of 4.9%. This operation followed several months of work by Romuald Wadagni and his team, and trips to meet investors in Asia, Europe and America. On 29 November 2021, the country repaid part of its debt early, finalizing the early redemption of a CFA 218 billion (€332 million) bond tranche on
BRVM, including more than CFA 150 billion in bonds issued through public offerings. With this operation, Benin saved more than 36 billion CFA francs (about €55 million) in non-accrued interest, which were directly injected into various social impact projects. Following this operation, the magazine
Jeune Afrique published an article entitled "How Romuald Wadagni made Cotonou save 55 million euros". In 2022, in the context of the economic crisis following the
COVID-19 pandemic and the
Russian-Ukrainian war, Wadagni took measures to preserve the purchasing power of the Beninese. The authorities announced that they would invest more than 41 billion CFA francs ($66 million) in reducing the prices of consumer goods. In April 2022, he led the Beninese delegation to
Washington for the completion of an unprecedented $700 million agreement between Benin and the
International Monetary Fund (IMF), involving both the Extended Credit Facility and the Extended Fund Facility. When the agreement was concluded, the IMF emphasized that Benin had made significant progress in terms of macroeconomic management. In early 2023, Patrice Talon widened Wadagni's scope to include international cooperation and defense issues, with a focus on securing the north of the country and acquiring military equipment. In October 2023, as a result of the various reforms, Benin was ranked eighth in the world, and first in Africa, in the global tax expenditure transparency index published by the Economic Policy Council and the German Institute of Development and Sustainability (IDOS). In December 2023, the
IMF validated a two-year agreement for the country under the Resilience and Sustainability Facility (FRD) for an amount equivalent to $200 million. At the time, the IMF stated: "Program performance remains strong, with all quantitative targets to end-June 2023 achieved and structural benchmarks implemented". In February 2024, against a backdrop of high interest rates, a Beninese delegation led by Wadagni met with investors in
London and
New York City to discuss
Benin's first bond issue in US dollars. In mid-February 2024, Benin became the second African country to return to the international debt market after
Ivory Coast. The country attracted international investors and raised $750 million by issuing its first US dollar bond. The bond has a term of 14 years and a coupon of 7.96%. With an interest-rate swap, the euro coupon is 6.5%.
Le Figaro describes the country's first dollar issue as a success, "reflecting its financial credibility and growth momentum". The newspaper quotes Wadagni: "The IMF granted us financing equivalent to 400% of our quota, whereas the average is 125%, and we also had access to the resilience fund, which grants long-term loans ". In
Bloomberg, Gemcorp Capital management's chief economist highlights the fact that Benin managed to issue its bond at a yield equal to, or even lower than, that of the Ivory Coast. This is one of the highest ratings awarded to a
sub-Saharan African country, after
Botswana,
Mauritius and the Ivory Coast. For its part,
Fitch Ratings confirmed Benin's credit rating at "B+", with a stable outlook. The agency recognizes Benin's robust economic reforms and proactive debt management.
Moody's forecasts sustained economic growth, anticipating favorable fiscal consolidation and a reduction in the budget deficit to 2.9% of
GDP by 2025. In May 2024, the 2023 Open Budget Survey (EBO) ranked Benin first among French-speaking countries for budget transparency, with a score of 79 out of 100, a score that doubled between 2017 and 2023 under Wadagni's ministry. This puts Benin in second place in the continental ranking, surpassed only by
South Africa. In November 2024, at
COP 29 in
Baku, Wadagni presented an "innovative" financing plan to combat global warming, with the support of international financial institutions. The plan includes the creation of a climate finance unit and the use of mechanisms such as
carbon credits and
green bonds. In January 2025, Benin issued $500 million in international bonds. Thanks to strong demand ($3.5 billion), it raises at a rate of 8.625%, below the initial range of 9.25%~9.375%. At the same time, it obtained a 500 million loan from
Deutsche Bank, enabling it to buy back Eurobond 2032 and thus improve the terms of its public debt. At the beginning of 2025, while many were hoping that he would apply for the presidency of the
African Development Bank, he was not among the candidates registered at the time of the closing of registrations.
Candidate in the 2026 presidential election In September 2025, he was nominated by the ruling coalition as a candidate in the
2026 Beninese presidential election. Incumbent President Patrice Talon announced he would not run for a third term, paving the way for Wadagni's victory. On April 12, 2026, Wadagni, alongside running mate
Mariam Chabi Talata, won the election with four million votes, approximately 94% of those cast. == Honours and awards ==