(Ecofin Agency) - Côte d'Ivoire will benefit from $133.9 million under its economic program with the International Monetary Fund (IMF), the institution reports.

IMF says the disbursement aims to sustain strong growth, ensure macroeconomic stability, reduce poverty and promote inclusiveness. The performance under this program is commendable, and all performance criteria, except one, were met.  

The reforms implemented by the Ivorian government to improve business environment and macroeconomic stability forecast mid-term robust growth outlook. However, the institution points out that it is essential for the Ivorian authorities to preserve debt sustainability. Since 2016, debt has risen from 48.4% of GDP to 53.2% in 2018. But it is expected to decrease this year to 52.5% and further to 49.6% in 2020.

To achieve this objective, the IMF calls on the government to limit its contingent liabilities while increasing tax revenues in the medium term. “Borrowing policy carefully assessing the cost and benefits of new loans is required to keep Côte d’Ivoire’s debt on a sustainable path,” said Mitsuhiro Furusawa (photo), IMF’s Deputy Managing Director.

The new IMF disbursement brings the total disbursements made to the country under the ECF arrangement to $765.8 million.

Moutiou Adjibi Nourou