Niger: Fourth and Fifth Reviews under the Extended Credit Facility Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Extension and Rephasing of Arrangement, and First Review under the Resilience and Sustainability Facility Arrangement, and Request for Extension and Rephasing of the Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Niger

International Monetary Fund

No 2024/244, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Niger’s the Fourth and Fifth Reviews under the Extended Credit Facility Arrangement, Requests for Waivers of nonobservance of Performance Criteria, and Extension and Rephasing of Arrangement, and First Review under the Resilience and Sustainability Facility Arrangement, and Request for Extension and Rephasing of the Arrangement. Political instability and sanctions following the military takeover of July 2023 have severely and persistently affected economic and social conditions. Growth is expected to rebound briskly in 2024 to 10.6 percent due to the start of oil exports and ensuing spillover effects across the economy, as well as increased production in the agricultural sector, and the lifting of sanctions. Program implementation was broadly on track at end-June 2023 but was subsequently disrupted by the political crisis, which led to the accumulation of external and domestic debt service arrears. Fostering private sector development, supported by a stable financial system and financial inclusion, is vital for resilient and inclusive growth. Progress in implementing reforms under the RSF-supported program is welcomed. Stepped up implementation of the measures under the program is essential to build resilience to climate change and lay the foundations to unlock additional finance for climate-related investments.

Keywords: oil revenue management strategy; Sustainability facility arrangement; arrears amount; climate change vulnerability; WB engagement; Debt service; Arrears; Global; West Africa (search for similar items in EconPapers)
Pages: 129
Date: 2024-07-24
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=552501 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2024/244

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().