IMF Staff Country Reports

This paper presents Niger’s the Fourth and Fifth Reviews under the Extended Credit Facility Arrangement, Requests for Waivers of nonobservance of Performance Criteria, and Extension and Rephasing of Arrangement, and First Review under the Resilience and Sustainability Facility Arrangement, and Request for Extension and Rephasing of the Arrangement. Political instability and sanctions following the military takeover of July 2023 have severely and persistently affected economic and social conditions. Growth is expected to rebound briskly in 2024 to 10.6 percent due to the start of oil exports and ensuing spillover effects across the economy, as well as increased production in the agricultural sector, and the lifting of sanctions. Program implementation was broadly on track at end-June 2023 but was subsequently disrupted by the political crisis, which led to the accumulation of external and domestic debt service arrears. Fostering private sector development, supported by a stable financial system and financial inclusion, is vital for resilient and inclusive growth. Progress in implementing reforms under the RSF-supported program is welcomed. Stepped up implementation of the measures under the program is essential to build resilience to climate change and lay the foundations to unlock additional finance for climate-related investments.