• IMF approves $843.9M deal after Côte d'Ivoire program reviews

• Funds to support fiscal reforms, climate resilience, and growth

• Economy on track: 6.3% GDP growth, 1% inflation forecast

The International Monetary Fund (IMF) has reached a staff-level agreement with Côte d'Ivoire that will clear the way for a total disbursement of $843.9 million to the West African nation.

The funding follows the successful completion of the fifth review under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) agreements, and the fourth review under the Resilience and Sustainability Facility (RSF). The disbursement is pending approval by the IMF's Executive Board.

The total amount is split into $509.5 million under the EFF and ECF programs, which is intended to support macroeconomic balances, and $334.4 million via the RSF, specifically dedicated to strengthening the country's resilience to climate change.

The agreement concludes a mission led by Olaf Unteroberdoerster that took place in Abidjan from September 15 to 30. Unteroberdoerster praised the country’s "strong” performance, noting the outcome of "constructive discussions" with Ivorian authorities.

According to the IMF, budgetary discipline has significantly improved, driven by efficient revenue mobilization and strict expenditure control. This rigor has led to notable progress in fiscal consolidation. For the first time since the program's launch in 2023, the fiscal deficit is on track to meet the UEMOA target of 3% of GDP for this year.

Authorities committed to maintaining a prudent fiscal policy in 2026, solidifying the long-term viability of public finances and debt. To achieve this, the government is leveraging its Medium-Term Revenue Mobilization Strategy, which aims to raise tax revenues to 15.7% of GDP by 2026, creating fiscal space to finance social spending and infrastructure.

Growth Outlook

The country's economic prospects are positive. The Bretton Woods institution forecasts GDP growth to accelerate to 6.3% in 2025 and reach 6.7% over the medium term, boosted by the services, hydrocarbon, and mining sectors. Inflation, which has fallen faster than anticipated, is expected to average around 1% for the year.

The current account deficit is projected to narrow to approximately 1.5% of GDP, thanks to favorable terms of trade, particularly the rise in cocoa prices and lower costs for imported food commodities.

Côte d'Ivoire is expected to continue structural reforms aimed at both consolidating macroeconomic stability, such as controlling the deficit and increasing revenues, and enhancing the country’s resilience to climate change. These reforms are seen as critical steps toward achieving the nation's goal of becoming an upper-middle-income economy by 2030.

Sandrine Gaingne