Benin: Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria

Benin: Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria – Press Release; and Staff Report

July 11, 2018

Preview Citation

Format: Chicago

Benin: Second Review under the Extended Credit Facility and Request for Modification of Performance Criteria – Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed October 6, 2024

Summary

Economic growth remains strong, driven by cotton production, increased public investment, and a vibrant tertiary sector that benefited from the economic recovery in Nigeria since June 2017. The fiscal consolidation path envisages a lower than originally programmed fiscal deficit (including grants) in 2018—thanks to stronger domestic revenue mobilization—and attainment of the WAEMU convergence criterion of 3 percent of GDP in 2019. Program implementation remains satisfactory with all end-December 2017 quantitative performance criteria (QPCs) met. The ongoing rebasing of the national accounts initiated in 2017 is expected to be completed later in 2018.

Subject: Capital spending, Current spending, Expenditure, Public debt, Public investment and public-private partnerships (PPP), Revenue administration

Keywords: Africa, Benin, Capital spending, Contribution to the build-up, CR, Current spending, Debt issuance, Financing, Global, ISCR, Long-term debt, Programmed fiscal consolidation path, Public investment and public-private partnerships (PPP), Revenue, Revenue performance, Short-term debt, Sub-Saharan Africa, Updated debt sustainability analysis, WAEMU convergence criterion

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/217
Stock No:

1BENEA2018003
ISBN:

9781484367285
ISSN:

1934-7685

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