Benin: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Nonobservance of Performance Criterion and Augmentation of Access: Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Benin
August 14, 2009
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This paper discusses key findings of the Sixth Review under Poverty Reduction and Growth Facility (PRGF) for Benin. The macroeconomic outlook is weaker for 2009–10, reflecting the impact of the crisis. Real GDP growth is expected to slow down to about 3–4 percent in 2009–10. The authorities’ policy response of allowing automatic fiscal stabilizers to work is appropriate. The implementation of structural reforms needs to be accelerated to enhance the competitiveness of Benin’s economy and increase its resilience to exogenous shocks.
Subject: Balance of payments, Current account deficits, External debt, Financial crises, Fiscal policy, Fiscal stance, Public debt
Keywords: CR, Current account deficits, debt, deficit, fertilizer subsidy, Fiscal stance, Global, government's commitment, ISCR, low-interest lending facility, policy intervention rate, ratio, staff advice, staff appraisal, West Africa
Pages:
66
Volume:
2009
DOI:
Issue:
252
Series:
Country Report No. 2009/252
Stock No:
1BENEA2009001
ISBN:
9781451803600
ISSN:
1934-7685
Notes
Full text also available in French.
