Benin: Request for a Three-year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Benin

International Monetary Fund

No 2017/100, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Benin’s Request for a Three-Year Arrangement under the Extended Credit Facility. The new program aims to create fiscal space by stepping up domestic revenue mobilization and enhancing the efficiency of government spending; gradually increasing absorptive capacity to scale up investment; strengthening public debt management; and promoting private sector investment through stronger institutions and a better business environment while keeping debt sustainable. It will also aim to ensure that scaled-up public investment is consistent with debt sustainability. This is particularly important for Benin: recent borrowing has significantly reduced available fiscal space, and potential risks have materialized as a result of growth shortfalls, fiscal slippages, and contingent liabilities from state-owned enterprises.

Keywords: ISCR; CR; authority; financing; authorities' intention; Benin's economy; debt; convergence criteria; protracted balance of payments; ECF arrangement; sustainability framework program scenario; Public investment and public-private partnerships (PPP); Capital spending; West Africa; Global (search for similar items in EconPapers)
Pages: 97
Date: 2017-04-26
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