1. Our Ivorianauthorities would like to thank the Board, Management and Staff for the Fund’s continued engagement with Côte d’Ivoire. The year 2020 was marked by the disbursement under the Rapid Credit Facility (RCF) and a purchase under the Rapid Financing Instrument (RFI) to support the government’s response to the COVID-19. Meanwhile, the authorities’ four-year program supported by the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements contributed to enhance macroeconomic stability and deliver strong growth through its
1. Our Ivorianauthorities would like to thank the Board, Management and Staff for the Fund’s continued engagement with Côte d’Ivoire. The current program supported by the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements, has provided an appropriate framework to sustain the country’s efforts in enhancing macroeconomic stability and bolstering structural reforms for promoting economic transformation. The recent discussions between staff and the authorities in the context of the fourth reviews under the ECF/EFF arrangements shed
On behalf of my Ivorianauthorities, I would like to express my appreciation to Management and staff for maintaining a constructive policy dialogue with Côte d’Ivoire over the past years admist the challenging political crisis facing the country. The authorities are in broad agreement with and welcome the staff appraisal of the recent economic developments as well as the policy advice on macroeconomic and structural reforms conducive to sustained growth and poverty reduction.
The March 2007 Ouagadougou Peace Accord resulted in a new government, paving the
1. Our Ivorianauthorities would like to thank the Board, Management and Staff for the Fund’s continued support to Côte d’Ivoire. The Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements have been instrumental in the authorities’ efforts to strengthen macroeconomic stability and move the country towards emerging market status. The authorities appreciate the policy dialogue with Staff and broadly share the thrust of their report, which properly highlights the major achievements in the recent period as well as the policy challenges for
This paper discusses Cote d’Ivoire’s Sixth Review Under the Arrangement of the Extended Credit Facility and the Extended Arrangement Under the Extended Fund Facility, and Request for Extension and Augmentation of Access. Côte d’Ivoire has been pursuing a development-oriented policy agenda, and the IMF-supported program in place since 2016 has supported that focus, paving the way for the private sector to become the main driver of growth. The performance under the program has been strong. The medium-term growth prospects remain robust, predicated on continuing prudent macroeconomic policy, furthering financial sector reforms and sustaining structural reforms to bolster private sector-led inclusive growth. Côte d’Ivoire’s reform efforts have resulted in improvements in its business climate in recent years. It will be imperative to continue the reform agenda to further stimulate private sector activity and support inclusive growth, including by improving the energy sector, human capital and financial inclusion, accelerating digitalization, enhancing trade connectivity and governance, expanding the coverage of social safety nets, and reinforcing the statistical apparatus to help better inform economic policy.
This IMF Staff Report highlights that the robust economic growth in Côte d’Ivoire is projected to continue in 2018. The inflation remains subdued. The program aims to achieve a sustainable balance of payments position, foster inclusive growth and poverty reduction, and create fiscal space for investing in priority infrastructure and social projects. Strong economic performance since 2012, with average annual growth of 9 percent, reflected the economic recovery following political normalization, improved business environment, strong program of reforms, and supportive fiscal policy. A key policy challenge is to sustain robust growth and make it more inclusive and private sector-driven. Robust medium-term growth is expected to be supported by domestic demand.
On behalf of our Ivorianauthorities, we thank the Board, Management and staff for the continued support to their policy and reform efforts to preserve macroeconomic stability and put Côte d’Ivoire’s economy on a steady path to an emerging market status by 2020. Our authorities are appreciative of the constructive dialogue they maintain with the institution, including through the latest exchange of views in the context of Mr. Furusawa’s visit to Abidjan and staff’s mission under Article IV consultation, which took place in late February to early March of this
This paper sets forth a proposal for an expanded and more flexible NAB. The proposal was developed in close consultation with current and potential participants in the NAB, including through meetings of current and potential participants in April, July, and November 2009 in Washington, D.C. under the chairmanship of Japan.
In completing the review, the Executive Board also granted two waivers of non-observance of the performance criteria on the overall fiscal balance and on the non-accumulation of new external payment arrears. The Executive Board also completed the financing assurances review.
Following the Executive Board’s discussion of Côte d’Ivoire’s performance, Mr. John Lipsky, First Deputy Managing Director and Acting Chair, stated:
“The Ivorianauthorities are to be commended for their satisfactory performance under the PRGF-supported program and progress toward