Public Management

Benin: IMF welcomes public policies and announces a $22.4M credit line

Monday, 02 July 2018 17:35

The International Monetary Fund (IMF) approved a $22.4 million financing for Benin under an Extended Credit Facility (ECF), an institution statement reported June 29.

This new investment is reportedly to encourage the country to pursue reforms undertaken in recent years. IMF indicated that last year, the country witnessed higher economic growth and inflation was kept at a relatively low rate. Budget performance was above expectations while overall deficit was maintained at 7% of GDP.

This good achievement was mainly driven by an increase in tax revenues thanks to a tax base growth as well as an improvement of the tax collection system. Moreover, thanks to Nigeria’s economy upswing and an increase in cotton production (with a record volume of 597, 986 tons for the 2017/2018 season), Benin achieved a 5.6% growth in 2017. IMF also pointed out a slowdown in public debt, motivated by the compliance with planned public spending.

However, the institution revealed that the rising in current account deficit in 2017 limited the potential for higher economic growth over the period. Nevertheless, government reforms provide positive economic outlook in the coming years. IMF forecasted a 6% growth for the country this year.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Funding part of $250 million raise to boost investor confidence Fintech expands services, processes $40 billion across 30...
ACK Holding signed an agreement to acquire Colas Gabon, a subsidiary of Bouygues. The deal includes industrial assets and 254 employees, with...
BICICI posted a net profit of CFA36.5 billion ($65.4 million), up 39.3% year-on-year in 2025. Customer loans fell to CFA524.4 billion as the...
Shares gained 42.36% in 2025 and hit an all-time high of 37,500 CFA francs in 2026, delivering investors a sustained rally on the BRVM...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
04

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
05

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.