Côte d'Ivoire: Second Reviews Under Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review Under the Resilience and Sustainability Facility Arrangement-Press Release; and Staff Report
IMF Staff Country Reports, July 15, 2024
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- Côte d'Ivoire: Second Reviews Under Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review Under the Resilience and Sustainability Facility Arrangement-Press Release; and Staff Report
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Bibliographic details
- Published: July 15, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400281716.002
Overview
- This paper covers:
- Second Review under Extended Arrangement under the Extended Fund Facility (EFF).
- Second Review under the Arrangement under the Extended Credit Facility (ECF).
- Request for Modification of Quantitative Performance Criteria.
- First Review under the Resilience and Sustainability Facility (RSF) Arrangement.
- Date of publication: July 15, 2024.
- Pages: 138.
- Series: Country Report No. 2024/223.
- Issue: 223.
- Volume: 2024.
- DOI: https://doi.org/10.5089/9798400281716.002.
- Stock No: 1CIVEA2024002.
- ISBN: 9798400281716.
- ISSN: 1934-7685.
Economic outlook and key findings
- Côte d’Ivoire’s economy remains resilient against a still difficult global backdrop.
- Notwithstanding lower than expected cocoa production, the medium-term outlook remains favorable.
- Drivers supporting the outlook:
- Still strong consumption demand.
- Still strong investment demand.
- New activity in the hydrocarbon exploration and production sector.
- The debt management operation has been instrumental in ensuring that debt sustainability risks remain within the moderate rating of debt distress.
Fiscal and revenue policy
- Authorities remain firmly committed to boosting tax revenue into the medium term.
- The medium-term revenue strategy (MTRS) was approved in May 2024.
- Adoption of a comprehensive MTRS is described as a significant reform that:
- Provides an overall vision for tax policy and administration reforms.
- Aims to ensure that domestic revenue mobilization is self-sustaining.
- Seeks to command broad public support.
Debt sustainability and risk management
- Debt management operation outcomes:
- Helped keep debt sustainability risks within the moderate rating of debt distress.
- External debt and public debt are central topics of the paper (topics listed: Debt sustainability, External debt, Public debt).
Structural reforms and program implementation
- Maintaining momentum on structural reforms under the program is critical to support the objectives of the national development plan.
- Program themes include:
- Reform implementation.
- Revenue administration reform.
- RSF objective alignment with resilience and sustainability priorities.
Subject tags and keywords (as provided)
- Subjects: Climate finance, Debt sustainability, Environment, External debt, Public debt, Revenue administration.
- Keywords: administration reform, Climate finance, Debt sustainability, debt sustainability risk, ECF arrangement, EFF review, exchange rate, Global, Ivorian authorities, reform implementation, RSF objective, West Africa.
International Monetary Fund. African Dept. "Côte d'Ivoire: Second Reviews Under Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review Under the Resilience and Sustainability Facility Arrangement-Press Release; and Staff Report", IMF Staff Country Reports 2024, 223 (2024).
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