International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Apr 05, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Benin on the Second Review under the Extended Fund Facility and the Extended Credit Facility Arrangements

The ongoing full operationalization of the social registry will help channel targeted support to vulnerable households in a world more prone to shocks, proven to disproportionally affect the poor

IMF reaches staff-level agreement with Benin on policies for the completion of the Second Review under the EFF/ECF. Upon completion of the review by the IMF Executive Board, Benin will have access to $68 million, bringing cumulative disbursements under the program to about $360 million. After three years of warranted…

Source: International Monetary Fund (IMF) | Dec 15, 2022

International Monetary Fund (IMF) Executive Board Completes the First Reviews under the Extended Fund Facility and Extended Credit Facility Arrangements for Benin

On December 14, 2022, the Executive Board of the International Monetary Fund completed the First Review of Benin’s Fund-supported program

IMF Board completed the First Review under the 42-month blended EFF/ECF arrangement for Benin, providing the country with immediate access to about US$144 million. The program is off to a strong start, with all end-June 2022 performance criteria and indicative targets met and all structural benchmarks implemented. After three years…

Source: International Monetary Fund (IMF) | May 16, 2020

Coronavirus - Benin: International Monetary Fund (IMF) Executive Board Approves a US$125 Million Disbursement Under Benin’s Extended Credit Facility (ECF)-Supported Arrangement

The authorities are implementing a response plan that will raise significantly health spending and provide support to vulnerable households and impacted businesses

The Executive Board decision allows an immediate disbursement of US$125.1 million to Benin to address the urgent financing needs stemming spread of COVID-19 and to mitigate its economic and social impacts; The authorities are implementing a response plan that will raise significantly health spending and provide support to vulnerable households…

Source: International Monetary Fund (IMF) | May 08, 2019

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

Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity

Performance under the IMF-supported program was satisfactory in 2018; Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity; the authorities should pursue their efforts to improve the business environment and infrastructure, strengthen the governance framework, diversify the economy, promote high-quality education and health,…

Source: International Monetary Fund (IMF) | Jan 24, 2019

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) | Apr 02, 2018

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) | Dec 04, 2017

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) | Jun 16, 2017

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) | Apr 10, 2017

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) | Feb 23, 2017

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…

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