Cote d'Ivoire: First Reviews Under Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility, and Requests for Modification of Performance Criteria and Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Cote d'Ivoire
IMF Staff Country Reports, June 22, 2017
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- Cote d'Ivoire: First Reviews Under Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility, and Requests for Modification of Performance Criteria and Augmentation of Access-Press Release; Staff Report; and Statement by the Executive Director for Cote d'Ivoire
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Bibliographic details
- Published: June 22, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484305102.002
Summary findings
- Growth is projected at about 7 percent a year in 2017–19.
- Inflation is expected to remain subdued.
- Falling world cocoa prices and rising oil prices are cutting into export receipts and fiscal revenues.
- The IMF staff supports the authorities’ requests for augmentation of program access under the ECF and EFF arrangements and modification of end-June 2017 performance criteria (PCs).
Macroeconomic projections and outlook
- Growth: about 7 percent a year in 2017–19.
- Inflation: expected to remain subdued (no numeric target provided in the source).
- External sector pressures: declining export receipts due to falling world cocoa prices; higher import and fiscal costs due to rising oil prices.
Policy actions and IMF staff position
- IMF staff supports:
- augmentation of program access under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF);
- modification of end-June 2017 performance criteria (PCs).
- Policy focus areas reflected in subject tags:
- Debt sustainability, External debt, Government debt management, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Revenue administration.
Risks, channels, and policy implications
- Commodity price volatility:
- Fall in world cocoa prices reduces export receipts.
- Rise in oil prices increases fiscal pressures.
- Implication: Adjustment of program access and modification of performance criteria to accommodate shocks and preserve program traction.
Content in this bundle
- Country Report