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Dorothy Engmann, Mr. Ousmane Dore, and Benoít Anne
This paper evaluates the impact of the sociopolitical crisis in Côte d'Ivoire on the economies of its neighbors. Using a nonsubjective weighted index of regional instability in cross-country time-series regressions, it shows that the increase in regional instability caused by domestic instability in Côte d'Ivoire had a negative effect on the growth performance of its most direct neighbors, but no significant effect on the subregion as a whole including the West African Economic and Monetary Union (WAEMU). The paper also examines the channels through which such spillover effects took place.
Dorothy Engmann, Mr. Ousmane Dore, and Benoít Anne

I. I ntroduction Once considered the jewel of West Africa and an oasis of political stability in a volatile neighborhood, Côte d’Ivoire found itself in the midst of a deep sociopolitical crisis, starting in 1999 with a military coup d’état. The ensuing sociopolitical events of 1999–2000 had a significant impact on the overall macroeconomic environment. After expanding by an average rate of 5.6 percent annually during the period 1994–98, the economy contracted by about 0.2 percent on average during 1999–2000 ( Table 1 ). As a result, real GDP per capita

International Monetary Fund

, have helped arrest the severe deterioration in social indicators resulting from Côte d’Ivoire’s sociopolitical crisis. Near-term economic prospects appear favorable, although many challenges still lie ahead, and continued donor assistance will be needed to support the authorities’ reform efforts. Directors welcomed the achievement of a primary budget surplus. However, continued current spending pressures arise from the electricity subsidy, large contingent wage commitments, and discretionary spending. Directors underscored that fiscal consolidation remains critical

International Monetary Fund

the enhanced Heavily Indebted Poor Countries (HIPC) Initiative , representing relief on debt service pending irrevocable debt relief when the country reaches the HIPC completion point. The Executive Board also concluded the Article IV consultations with Côte d’Ivoire, which will be covered in a separate Public Information Notice. Côte d’Ivoire is recovering from a prolonged sociopolitical crisis that led to widespread violence and a sharp decline in economic activity in early 2011. Since late-April 2011, the new government has embarked on an ambitious investment

International Monetary Fund

On November 4, 2011, the Executive Board of the International Monetary Fund (IMF) concluded the 2011 Article IV consultation with Côte d’Ivoire. 1 Background Côte d’Ivoire is emerging from a decade-long sociopolitical crisis that has held back economic growth. In particular, growth has been constrained by low investment and a poor business environment. As a result, per capita income fell by about one-sixth in the past ten years and almost half the population was living below the poverty line in 2010. In 2009, Côte d’Ivoire adopted an economic and

International Monetary Fund
This 2011 Article IV Consultation reviews Côte d’Ivoire’s economic condition. Côte d’Ivoire is emerging from a decade-long sociopolitical crisis that has held back its economic growth. In 2009, Côte d’Ivoire adopted an economic and financial program supported by a three-year Extended Credit Facility (ECF) arrangement with the aim of ensuring a stable macroeconomic framework, promoting sustained growth, and reducing poverty. Executive Directors have commended Côte d’Ivoire’s rapid progress in reviving the economy. Directors have also welcomed the authorities’ good performance under the economic recovery program, especially the prudent budgetary stance.
International Monetary Fund
This Selected Issues paper on Togo examines the banking sector in Togo. It describes the nature of the problems presently confronting the Togolese banking system, most of which have their origins in the impact of the sociopolitical crisis of 1991–93 on the banks’ portfolio structure and profitability. The paper analyzes these vulnerabilities, and the reform perspectives for the financial sector. The paper highlights that the decline in revenue as a share of GDP raises the question of whether the current tax structure has been fully exploited