The International Monetary Fund (IMF) announced on Wednesday October 4 that it had validated the first stage of the aid program for Côte d’Ivoire, which will result in the disbursement of 500 million dollars (approximately 477 million euros ), after validation by its board of directors.
The program, which was approved by the IMF at the end of May, is spread over forty months and represents a total amount of 3.5 billion dollars (or 2.6 billion SDRs, the institution’s unit of account corresponding to a basket of the main world currencies).
“The discussions focused on the ability to improve state revenues in order to preserve budgetary stability and guarantee sustainable debt,” recalled the head of the IMF mission on site, Olaf Unteroberdoerster. A further and gradual reduction in the current account deficit should help reduce external pressures. »
Overall, the Ivorian economy has been stronger than expected, with the IMF expecting growth of 6.4% in the current year, with inflation expected to fall to 4.7%. at the end of the year. The IMF mission also welcomed the improvement in state revenues, which makes it possible to “preserve budgetary and debt sustainability and support the key objectives” of the national development plan covering the period 2021-2025.
Côte d’Ivoire has launched several investment programs, particularly in the key cocoa sector, in order to create a processing industry, until now mainly carried out outside the country, although it is the world’s leading producer. It also wants to improve its agricultural production in order to increase its exports to other African markets.
