Benin: Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria – Press Release; and Staff Report

International Monetary Fund

No 2018/217, IMF Staff Country Reports from International Monetary Fund

Abstract: Economic growth remains strong, driven by cotton production, increased public investment, and a vibrant tertiary sector that benefited from the economic recovery in Nigeria since June 2017. The fiscal consolidation path envisages a lower than originally programmed fiscal deficit (including grants) in 2018—thanks to stronger domestic revenue mobilization—and attainment of the WAEMU convergence criterion of 3 percent of GDP in 2019. Program implementation remains satisfactory with all end-December 2017 quantitative performance criteria (QPCs) met. The ongoing rebasing of the national accounts initiated in 2017 is expected to be completed later in 2018.

Keywords: ISCR; CR; programmed fiscal consolidation path; WAEMU convergence criterion; Benin; revenue; financing; short-term debt; long-term debt; debt issuance; revenue performance; contribution to the build-up; updated debt sustainability analysis; Capital spending; Public investment and public-private partnerships (PPP); Current spending; Sub-Saharan Africa; Global; Africa (search for similar items in EconPapers)
Pages: 78
Date: 2018-07-11
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