This Selected Issues paper presents an external stability assessment on Niger. Niger’s current account balance deteriorated in 2013, mostly on account of higher food and capital goods imports. The deficit is expected to widen further in 2014–15, mainly driven by large investment in the extractive industry and basic infrastructure. The current account is projected to gradually improve from 2016 as important projects in infrastructure will come to end, the oil and mining sectors come on stream and public and private savings increase. Although aid and foreign direct investments are the main sources of external financing, external borrowing–mainly on concessional terms–has increased significantly.
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
Niger’s medium-term fiscal policy aims to support the growth strategy by creating fiscal space for increasing development spending while maintaining external debt sustainability. Economic activity in recent years has been affected by large swings in agricultural production. The authorities’ program is aimed at maintaining macroeconomic stability while increasing resilience to shocks; strengthening public finance and debt management; and supporting private and financial sector development. Medium-term fiscal policy will aim at maintaining debt sustainability while creating room for increased development spending.
Niger's government has adopted an ambitious development plan, based on the use of oil and mining revenue for public investment in infrastructure, agriculture, health, and education. IMF staff underlined the need to step up efforts to improve the business climate in Niger to attract more jobs, thereby creating private investment in the nonnatural resources sector of the economy. Expanded reliance on revenues from natural resources will increase Niger’s vulnerability to commodity price fluctuations, augmenting the high vulnerability to climatic shocks.