L’UEMOA s’est montrée résiliente face à de forts chocs négatifs, parvenant à garder une croissance forte, tandis que l’inflation est récemment revenue dans sa fourchette cible. Toutefois, des pressions budgétaires et extérieures persistantes — dues à des besoins de financement accrus pendant une période d’accès limité aux marchés de capitaux internationaux — ont pesé sur la liquidité et fortement entamé les réserves ces dernières années. Le resserrement de la politique monétaire opéré par la BCEAO et l’augmentation des financements extérieurs enregistrée ces dernières semaines ont contribué à l'amélioration des perspectives des réserves, mais celles-ci demeurent inférieures aux niveaux adéquats.
This paper discusses Côte d'Ivoire’s Second Review under Extended Arrangement under the Extended Fund Facility and under the Arrangement under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review under the Resilience and Sustainability Facility Arrangement. Côte d’Ivoire’s economy remains resilient against a still difficult global backdrop. Notwithstanding lower than expected cocoa production, the medium-term outlook remains favorable and has been boosted by still strong consumption and investment demand, as well as new activity in the hydrocarbon exploration and production sector. The authorities remain firmly committed to boosting tax revenue into the medium term, and to implementing the medium-term revenue strategy (MTRS) approved in May 2024. Adoption of a comprehensive MTRS is a significant reform, which provides an overall vision for tax policy and administration reforms to ensure that domestic revenue mobilization is self-sustaining and commands broad public support. The debt management operation has been instrumental in ensuring that debt sustainability risks remain within the moderate rating of debt distress. Maintaining momentum on structural reforms under the program will be critical to support the objectives of the national development plan.