Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

International Monetary Fund

No 2018/364, IMF Staff Country Reports from International Monetary Fund

Abstract: The growth momentum continues, driven by strong port activity, high cotton production, and the recovery of the Nigerian economy. The 2019 budget will bring the commitment-based fiscal deficit below the WAEMU convergence criterion of 3 percent of GDP next year. Program implementation remains satisfactory with all end-June 2018 quantitative performance criteria (QPCs) met; but the continuous QPC on non-accumulation of new domestic arrears was breached over March-June due to an institutional oversight.

Keywords: executive board discussion; authorities' intention; Benin's request; draft budget; WAEMU deficit criterion; Capital spending; Current spending; West Africa; Africa (search for similar items in EconPapers)
Pages: 92
Date: 2018-12-13
New Economics Papers: this item is included in nep-mac
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