“IMF will grant Benin over the next three years a $150 million loan to support its action programme,” said Norbert Toé, head of an IMF delegation visiting Benin, at the end of his mission.

Entitled Revealing Benin, the scheme aims to “improve populations’ living standards, maintain a stable macroeconomic environment which aligns with public debt and promote private sector’s contribution to wealth creation” in the country.

The 3-year funding programme will be backed by an extended credit facility which is mechanism that provides concessional loans developed by the IMF for low income generating nations.

To finance its action programme, the governement of Benin has issued last Feb, 2, treasury bonds worth FCFA35 billion (about $57 million) having a coverage rate of 71.32%. This year, the nation plans to mobilize CFA300 billion (about $485 million) by issuing public securities. The PAG will extend over five years and cost CFA9,039 billion (about $14.6 billion $).