Press Release: Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Visit to Niger

IMF News, December 22, 2011

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Canonical URL: Press Release: Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Visit to Niger

Ms. Christine Lagarde made the statement in Niamey on December 22, 2011 (Press Release No. 11/483).
She thanked President Mamadou Issoufou, Prime Minister Brigi Rafini, Finance Minister Mahamadou Ouhoumoudou, and the President of the National Assembly Hama Amadou and his colleagues for a warm welcome.
She visited Boubon Village and the rice cooperative in Kollo and reported being "greatly impressed by the creativity and the dynamism of the people of Niger."
Meetings with the authorities covered Niger’s economic outlook and the challenges to be met, including:
- pressures posed by the impact of the crisis in Libya;
- decline in agricultural production and rising food shortages in parts of the country.

An agreement was reached on an economic program for 2012-14.
The framework could be supported with SDR 79 million (about US$123 million) under the IMF’s Extended Credit Facility (ECF), subject to approval by IMF management and the Executive Board.
Additional support from the donor community was identified as important to "further help build the basis of a sustainable growth."

Natural resources revenues can be of great help if:
- these revenues are managed well; and
- they are channeled toward efficient public investments in infrastructure, agriculture, health and education.
The 2012 Budget adopted by the National Assembly is described as "a good start."
It is important to:
- create space for critical social spending, while
- maintaining a sound macroeconomic environment.
External support is emphasized as key for Niger’s ability to weather external shocks and to protect the poorest within its population.
The international community "must be prepared to do more" given that "Niger is at a critical juncture" and "the road ahead is not an easy one."

Press Release No. 11/483 — December 22, 2011.