Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes 2019 Discussions with the West African Economic and Monetary Union on Common Policies for Member Countries

Fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3 percent of GDP in 2017

Inflation has remained low reflecting the peg to the Euro, but also continued solid agricultural production and the limited passthrough of higher world oil prices; fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Program Review Mission to Benin

Economic activity in 2017 continued to be strong, buoyed by record cotton production and the recovery of the Nigerian economy

The IMF team reached staff-level agreement with the authorities on policies that could support the completion of the second review of Benin’s ECF-supported program. The IMF Executive Board is expected to consider the review in June 2018. IMF team worked with the government and development partners to assess sectoral plans…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Review Under the ECF and Approves US$22.58 Million Disbursement for Benin

The Board also approved Benin’s request to set program conditionality for 2018, and to modify the end-December 2017 performance criteria

The program approved in April 20017 aims at supporting the country’s economic and financial reform program and focuses on raising living standards and preserving macroeconomic stability.  Completion of the review enables the disbursement of US22.58 million. Sustained efforts are needed to improve the business environment and foster greater private sector…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Benin

The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards

The economy grew by 4 percent in real terms in 2016, overcoming the low-growth environment that resulted from negative spillovers from Nigeria. The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards. IMF staff and the authorities agreed that the early progress…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$ 151.03 Million under the ECF Arrangement for Benin

Despite negative spillovers from neighboring countries, Benin’s economy rebounded in 2016 and its outlook is favorable

New program focuses on raising living standards and preserving macroeconomic stability Agriculture and a significant increase in public investment are projected to lift growth in 2017 Improving the quality, coverage, and timeliness of economic statistics will help achieve better policy making The Executive Board of the International Monetary Fund (IMF)…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff-level Agreement with Benin on an Extended Credit Facility Arrangement

“The three-year economic program reflects the strategic orientations of the Government’s Action Plan, 2016-21, and aims to improve the living conditions for the population, maintain a stable macroeconomic environment, and preserve public debt sustainability”

At the request of the government of Benin, a team from the International Monetary Fund (IMF), led by Norbert Toé, Mission Chief for Benin, visited Cotonou from February 15 to 22, 2017, to finalize discussions with the authorities on a three-year economic program that could be supported by the IMF…

Source: International Monetary Fund (IMF) |

IMF Staff Discusses with the Beninese Authorities on a Possible Fund-Supported Program

The new government is moving swiftly to change the policy environment and is intent on fostering a structural transformation of the economy and improving the living conditions of the population

At the request of the government of Benin, a team from the International Monetary Fund (IMF), led by Norbert Toé, Mission Chief for Benin, visited Cotonou from November 30 to December 12, 2016, to continue discussions with the authorities on a three-year economic program that could be supported by the…

Source: International Monetary Fund (IMF) |

Commodities, Rainfall, Instability Biggest Challenges —African Ministers

Rising inflation, drops in currency due to political instability Low commodity prices adding to fiscal pressures Help from international community “paramount” Low commodity prices, climate change, and insecurity are forcing many countries to make significant fiscal adjustments, African finance ministers said during the IMF-World Bank Spring Meetings in Washington D.C.…

Source: International Monetary Fund (IMF) |

IMF Staff Starts Discussions with the Beninese Authorities on a Possible Program

At the request of the government of Benin, a team from the International Monetary Fund (IMF), led by Christine Dieterich, Mission Chief for Benin, visited Cotonou from June 6 to 18, to start discussions with the authorities on a possible three-year economic program supported by the Extended Credit Facility (ECF)…