Benin: 2022 Article IV Consultation and Requests for an Extended Arrangement under the Extended Fund Facility and an Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Benin

IMF Staff Country Reports, July 25, 2022

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Benin: 2022 Article IV Consultation and Requests for an Extended Arrangement under the Extended Fund Facility and an Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Benin

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Bibliographic details

• Published: July 25, 2022
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400217777.002

Macroeconomic policy and fiscal framework

• Revenue mobilization is identified as the cornerstone of the authorities’ reform agenda.
• Revenue mobilization, together with better spending prioritization and improved efficiency, will help create fiscal space to support Benin’s development and security needs while preserving debt sustainability.
• The IMF-supported EFF/ECF is described as large and front-loaded and intended to be complemented by strong technical and financial support from development partners.
• Achieving the program’s goals will require continued commitment to clearly communicated reforms and external support.

Governance, rule of law, and AML/CFT

• A steadfast implementation of the recently adopted action plan for Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) is emphasized.
• Further strengthening of the rule of law and governance is presented as essential to consolidate foundations for sustained private sector-led growth.

Development focus, equity, and security

• The program is explicitly focused on “development with a human face” given Benin’s relatively large level of income inequality.
• Policy priorities include enhanced access to basic public services and improved state presence in vulnerable areas.
• These priorities are consistent with the authorities’ “civilian approach” to mitigating security risks.

Climate resilience and structural priorities

• Ongoing efforts to enhance resilience to climate change are highlighted as important complementary objectives to the fiscal and governance agenda.
• The report links structural reforms, governance improvements, and climate resilience to the goal of broad-based private sector-led growth.

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• Benin: IMF Staff Report Excerpts
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  • Benin: IMF Staff Report Excerpts (PDF)