Côte d’Ivoire will obtain additional support of $570 million following a review of economic and financial programs concluded with the International Monetary Fund (IMF) over the period 2023-2026, the board of directors announced on Tuesday of the international institution.
This amount provides $490 million for the FEC/MEDC (Extended Credit Facility and Extended Credit Facility) program and $80 million for the FRD (Resilience and Sustainability Facility) agreement.
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“Program implementation has been strong to date, with all end-December performance criteria and end-December and end-May structural benchmarks met,” noted the IMF in a press release to justify this budgetary support.
In May 2023, the Ivorian authorities concluded an agreement with the IMF on two economic and financial programs under the FEC and the MEDC amounting to $3.5 billion, aimed at supporting the State’s efforts to preserve macroeconomic stability and structurally transform the economy with a view to making Côte d’Ivoire an upper-middle-income country.
The IMF estimates, after its assessment, that the economy of Côte d’Ivoire “remains resilient in a still difficult global context”. Medium-term prospects “remain supportive” and growth for 2024 is expected to be 6.5%, while inflation is expected to be contained between 1% and 3% by the end of 2024.
With MAP
