Benin: Second Review under the Extended Fund Facility and the Extended Credit Facility Arrangements-Press Release; Staff Report; Debt Sustainability Analysis and Statement by the Executive Director for Benin

Benin: Second Review under the Extended Fund Facility and the Extended Credit Facility Arrangements-Press Release; Staff Report; Debt Sustainability Analysis and Statement by the Executive Director for Benin
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Volume/Issue: Volume 2023 Issue 175
Publication date: May 2023
ISBN: 9798400243486
$20.00
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Topics covered in this book

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Exports and Imports , Finance , Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , Public Policy- Environmental Policy , IMF governance diagnostic , ECF review , action program II , Policy discussion , IMF diagnostic , IMF's transparency policy , warranted policy accommodation , IMF C-PIMA assessment , government entity , Capital spending , West Africa , Global , Sub-Saharan Africa

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Summary

Frontloaded financing under the 42-month Extended Fund Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements—approved by the IMF Executive Board in July 2022—has supported the authorities’ balanced policy response to exogenous shocks, helping boost business confidence and support the economic recovery. Nevertheless, there are important socio-economic headwinds from geoeconomic fragmentation, food insecurity, and the regional security situation. The authorities’ continued commitment to reform will help keep the economy on a sustainable path.

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