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International Monetary Fund. African Dept.
This paper presents Côte d'Ivoire’s request for an Extended Arrangement Under the Extended Fund Facility (EFF) and a 40-Month Arrangement Under the Extended Credit Facility (ECF). IMF Board approves 40-month arrangements under the EFF and ECF for Côte d’Ivoire to help support the country’s transformation toward upper-middle income status through the implementation of the authorities’ national development plan while preserving macroeconomic stability. The key reform agenda under the arrangements is domestic revenue mobilization, which is central in preserving fiscal and debt sustainability and along with increased spending efficiency should generate fiscal space to help finance investment needs and critical spending in health and education to allow for deeper economic transformation. Structural reforms should further deliver improvements in business climate, private sector investments and financial inclusion to foster the necessary conditions for inclusive growth, through strengthening governance and human capital investments, especially amongst youth and women.
International Monetary Fund. African Dept.
Consecutive global shocks have led to a widening of macroeconomic imbalances, put a serious strain on public finances as well as regional reserves, and further exposed longstanding constraints to economic transformation. Notwithstanding record growth in the past decade and significant poverty reduction, large social priority and investment spending needs remain, while comparatively weak domestic revenue mobilization poses significant financing constraints. Against this backdrop, the authorities have requested Fund support of 400 percent of quota (SDR 2,601.6 million) for an economic program aimed at meeting pressing financing needs, preserving macroeconomic stability, and anchoring the National Development Plan (NDP) in key structural reforms to support Côte d’Ivoire’s transformation towards upper-middle income status.
International Monetary Fund. African Dept.

.4 30.3 Exchange rate REER (% change, depreciation –) -3.9 5.1 1.9 … … Sources: Ivoirian authorities, World Bank, and IMF staff estimates. Title page CÔTE D’IVOIRE STAFF REPORT FOR THE 2022 ARTICLE IV CONSULTATION May 31, 2022 KEY ISSUES Context : The economy proved resilient to Covid-19 and continued recovering in 2021, with growth estimated at 7 percent Growth is forecasted to slow to 6 percent this year due to the war in Ukraine. Inflation increased to 4.2 percent last year, on the back of surging

International Monetary Fund. African Dept.
This Selected Issues paper examines the impact of scaled-up public investment in Burkina Faso. The results suggest that “big-push” investment efforts, while designed to accelerate growth, are likely to run up against significant absorption-capacity constraints. These constraints will diminish the efficiency of investment spending and result in lower public capital accumulation and productivity growth than under a more measured approach. The empirical evidence from the experience of many countries also suggests that the results of aggressive scaling-up initiatives are mixed.
Mr. Alexei P Kireyev
The paper models export taxation of a primary commodity in a large country under two hypotheses about the structure of its export market. The first is perfect competition among exporters, where there is an indefinite number of buyers of the local product and at least a partial pass-through of international prices to local producers. The second is an oligopsony, a market structure in some low-income countries where numerous scattered local producers face a few powerful exporters that can influence domestic prices. For both hypotheses, export taxation can be justified on efficiency grounds only for the country that adopts the tax. Designed correctly, a low export tax may be welfare-enhancing for that country but will always be welfare-reducing for its trading partners. The models of export taxation for both hypotheses are calibrated for the illustrative case of cocoa exports from Côte d’Ivoire.
Mr. Calixte Ahokpossi, Kareem Ismail, Mr. Sudipto Karmakar, and Mr. Mesmin Koulet-Vickot
Financial depth in Sub-Saharan Africa (SSA) has been uneven over the last two decades. The WAEMU countries are lagging behind other regions, particularly the High Growth Non-oil Exporters (HGNOEs) group. We use two complementary methodologies to compare the two groups of countries. In a panel of 16 countries over 1997–2009, we find that the financial gap between the two groups of countries can be explained by institutional factors. In a benchmarking exercise comparing the major economy in the WAEMU (Côte d’Ivoire) with the most structurally similar in the control group (Mozambique), we show that Côte d’Ivoire underperformed relative to Mozambique and to its estimated potential. We then identify policy and institutional asymmetries between the two countries that could explain the gap in performance.

CFAF 10 billion Improve the business climate and the confidence of enterprises SB continuous ©International Monetary Fund. Not for Redistribution CÔTE D’IVOIRE 52 INTERNATIONAL MONETARY FUND Attachment II. Côte d’Ivoire Technical Memorandum of Understanding—Arrangement Under the Extended Credit Facility 2011–14 May 16, 2014 1. This Technical Memorandum of Understanding (TMU) describes the quantitative and structural assessment criteria established by the Ivoirian authorities and the staff of the International Monetary Fund (IMF) to monitor the

International Monetary Fund
This paper presents key findings of the First Review for Côte d'Ivoire under the Extended Credit Facility. Program performance at end-2011 was broadly satisfactory. All quantitative performance criteria for end-2011 were met, but the implementation of structural reforms has been mixed. Although good progress has been made to strengthen public financial management, improve the business climate, and reform the cocoa-coffee sector, action on other benchmarks for the financial and energy sectors fell short of program targets. Prospects for 2012 are favorable, notwithstanding the weak external environment.
International Monetary Fund
Government compensation and employment policies are important for the efficient delivery of public services which are crucial for the functioning of economies and the general prosperity of societies. On average, spending on the wage bill absorbs around one-fifth of total spending. Cross-country variation in wage spending reflects, in part, national choices about the government’s role in priority sectors, as well as variations in the level of economic development and resource constraints.