Statement by IMF Managing Director Rodrigo de Rato Following a Meeting with the Prime Minister Charles Konan Banny of Côte d'Ivoire

Press Release No. 06/83
April 27, 2006

Mr. Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement today following his meeting on April 25, 2006, with Prime Minister Charles Konan Banny of Côte d'Ivoire:

"I am encouraged by the improvements in the political situation since the new government of national unity assumed office in December 2005. Prime Minister Banny and I agreed that the post-conflict challenges facing Côte d'Ivoire, nevertheless, remain large.

"The IMF is ready to re-engage in Côte d'Ivoire and to support the authorities' economic and social reconstruction and recovery efforts. Such support could come under the IMF's Emergency Post-Conflict Assistance (EPCA). Approval of EPCA would depend on continued improvements in the security situation and progress with disarmament. In addition, an adequate economic program would need to be in place as well as a concerted financial effort by the international community to assist Côte d'Ivoire, which will also require addressing the issue of outstanding arrears to the World Bank.

"Prime Minister Banny and I agreed on the importance of good governance and transparency in public resource management, particularly in the petroleum, cocoa, and coffee sectors. For our part, the IMF stands ready to support Côte d'Ivoire in its efforts to overcome conflict and to reconstruct the nation," Mr. de Rato said.



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