Côte d'Ivoire: Requests for an Extended Arrangement Under the Extended Fund Facility and a 40-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Côte d'Ivoire

IMF Staff Country Reports, June 12, 2023

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Côte d'Ivoire: Requests for an Extended Arrangement Under the Extended Fund Facility and a 40-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Côte d'Ivoire

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Bibliographic details

• Published: June 12, 2023
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400245596.002

Overview

• This paper presents Côte d'Ivoire’s request for an Extended Arrangement Under the Extended Fund Facility (EFF) and a 40-Month Arrangement Under the Extended Credit Facility (ECF).
• IMF Board approves 40-month arrangements under the EFF and ECF for Côte d’Ivoire to help support the country’s transformation toward upper-middle income status through the implementation of the authorities’ national development plan while preserving macroeconomic stability.
• Publication date: June 12, 2023.
• Format information: Pages: 137; Volume: 2023; Issue: 204; Series: Country Report No. 2023/204.

Key findings and objectives

• Central reform agenda: domestic revenue mobilization.
• Purpose of revenue mobilization:
  • Preserve fiscal and debt sustainability.
  • Along with increased spending efficiency, generate fiscal space to help finance investment needs and critical spending in health and education to allow for deeper economic transformation.
• Broader objectives:
  • Support transformation toward upper-middle income status.
  • Preserve macroeconomic stability while implementing the national development plan.

Structural reforms and expected outcomes

• Structural reforms should deliver:
  • Improvements in business climate.
  • Increased private sector investments.
  • Enhanced financial inclusion.
• These reforms aim to foster conditions for inclusive growth by:
  • Strengthening governance.
  • Strengthening human capital investments, especially amongst youth and women.

Policy recommendations and reform priorities

• Prioritize domestic revenue mobilization as the key reform agenda.
• Increase spending efficiency to create fiscal space for:
  • Investment needs.
  • Critical spending in health and education.
• Implement structural reforms to promote:
  • Business climate improvements.
  • Private sector investment.
  • Financial inclusion.
  • Governance strengthening.
  • Human capital investments focused on youth and women.

Subjects and keywords

• Subject: External debt, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration.
• Keywords: Côte d'Ivoire vision, debt ratio, Debt sustainability, financing support, Global, Government debt management, Ivoirian authorities, revenue mobilization strategy, West Africa.

Publication identifiers

• DOI: https://doi.org/10.5089/9798400245596.002
• Stock No: 1CIVEA2023001
• ISBN: 9798400245596
• ISSN: 1934-7685

Source: Côte d'Ivoire: Requests for an Extended Arrangement Under the Extended Fund Facility and a 40-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Côte d'Ivoire (IMF Staff Country Reports 2023, 204).

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