Niger: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Niger

IMF Staff Country Reports, December 20, 2021

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Canonical URL: Niger: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Niger

Niger’s new government developed an ambitious reform agenda in the face of daunting challenges.
The previous ECF-supported program preserved macroeconomic stability and implemented some key PFM reforms, notwithstanding the pandemic.
Progress on revenue mobilization under the previous program was more limited, reflecting capacity constraints and a challenging environment.
Enhanced reforms and the advent of oil exports over the medium-term offer hope that greater domestic resources can be marshalled to accelerate growth and poverty reduction.

The previous ECF-supported program was able to preserve macroeconomic stability.
The previous program implemented some key public financial management (PFM) reforms.
Revenue mobilization progress was limited due to capacity constraints and a challenging environment.
Deep-seated social and political divisions and a deteriorating regional security situation are material impediments to achieving development goals.
Medium-term prospects are improved by the potential for oil exports and by implementing enhanced reforms.

Deep-seated social and political divisions.
Deteriorating regional security situation.
Capacity constraints that have limited revenue mobilization.
The pandemic’s adverse effects, which the previous program managed but that continue to pose risks.

Implement enhanced reforms to strengthen domestic resource mobilization.
Leverage the advent of oil exports over the medium-term to accelerate growth and poverty reduction.
Address capacity constraints in revenue administration and related institutions.
Pursue reforms to sustain macroeconomic stability and deepen PFM gains while mitigating social and security risks.