{
  "title": "IMF Staff Completes Review Mission to Niger",
  "publication": "IMF News, November 12, 2019",
  "sourceUrl": "https://www.imf.org/en/news/articles/2019/11/12/pr19409-niger-imf-staff-completes-review-mission",
  "canonical": "https://www.imf.org/en/news/articles/2019/11/12/pr19409-niger-imf-staff-completes-review-mission",
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  "summary": "Press Release No. 19/409; November 12, 2019.",
  "publishDate": "2019-11-12",
  "sections": [
    {
      "heading": "Mission context and timeline",
      "content": "- Press Release No. 19/409; November 12, 2019.\n- An IMF staff team led by Christoph A. Klingen visited Niamey from October 29 to November 12, 2019.\n- Purpose: conduct discussions on the fifth review of the program supported by the Extended Credit Facility (ECF) arrangement.\n- Niger’s program was approved by the IMF Board on January 23, 2017.\n- Staff-level agreement reached for the completion of the fifth review; it could be considered by the Executive Board of the IMF in early-January 2020."
    },
    {
      "heading": "Macroeconomic assessment and growth outlook",
      "content": "- Implementation of the government’s reform program has been satisfactory despite a challenging environment.\n- Macroeconomic stability remains firmly in place on the back of prudent fiscal policy and solid growth.\n- Economic activity benefits from:\n  - the government’s success in attracting foreign investors;\n  - scaling-up of donor support;\n  - favorable harvests;\n  - large-scale projects (including pipeline construction).\n- Growth projections and milestones:\n  - Growth should reach 6.3 percent this year.\n  - Growth should average more than 7 percent over the next five years.\n  - The construction of the pipeline for crude oil and the expected onset of oil exports in 2022 are highlighted as an important boon for the economy.\n- Fiscal revenue impact from oil:\n  - Fiscal revenues should rise by at least 2 percent of GDP from 2022."
    },
    {
      "heading": "Fiscal policy and public finances",
      "content": "- Fiscal policy is geared toward striking the difficult balance between attending to public needs and supporting macroeconomic stability.\n- The fiscal situation remains broadly satisfactory:\n  - The overall deficit is on track to improve this year.\n  - The overall deficit is on track to comply with the WAEMU deficit ceiling of 3 percent of GDP in 2020.\n- Revenue mobilization challenges:\n  - Revenue mobilization remains an uphill battle, especially considering the Nigeria border closure.\n- Policy emphasis:\n  - Prudent expenditure management and unrelenting reform efforts help keep public finances solid.\n  - The 2020 budget is described as an important step toward generating fiscal space for priority expenditures.\n  - High quality and transparency in public spending remains imperative."
    },
    {
      "heading": "Structural reforms, private sector, and governance",
      "content": "- Ensuring that the local private sector benefits from large-scale projects is central to improving living standards.\n- Key priorities and actions:\n  - Improve conditions for the formal local private sector to enable it to benefit from large-scale projects.\n  - Improve readings of business environment indicators (government efforts are commended).\n  - Improve access to financing for the private sector.\n  - Formalize the informal sector to level the playing field and spread the tax burden more widely.\n- Governance measures welcomed by the mission:\n  - Strengthening of HALCIA.\n  - Application to rejoin the EITI.\n  - Plans to upgrade the asset declaration regime for high-ranking public officials.\n- Importance of careful design:\n  - It will be important to carefully design the contracts and institutional arrangements governing the petroleum sector to make Niger’s impending oil exporter status an unqualified success."
    },
    {
      "heading": "Engagements and acknowledgements",
      "content": "- The IMF team met with:\n  - Prime Minister Brigi Rafini;\n  - Minister of State for Petroleum;\n  - the Ministers of Finance and Justice;\n  - the Minister Delegate for the Budget;\n  - the Special Presidential Advisor in charge of the business environment;\n  - other senior government officials.\n- Staff also exchanged views with representatives of the private sector and the donor community.\n- The IMF team thanked the authorities for their hospitality and for the fruitful dialogue.\n\nIMF Communications Department — MEDIA RELATIONS; Press Officer: Meera Louis; Phone: +1 202 623-7100; Email: MEDIA@IMF.org\n\n---\n\n\n References\n\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2019/11/12/pr19409-niger-imf-staff-completes-review-mission"
    }
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    "Published: November 12, 2019",
    "Press Release No. 19/409; November 12, 2019.",
    "An IMF staff team led by Christoph A. Klingen visited Niamey from October 29 to November 12, 2019.",
    "Purpose: conduct discussions on the fifth review of the program supported by the Extended Credit Facility (ECF) arrangement.",
    "Niger’s program was approved by the IMF Board on January 23, 2017.",
    "Staff-level agreement reached for the completion of the fifth review; it could be considered by the Executive Board of the IMF in early-January 2020.",
    "Implementation of the government’s reform program has been satisfactory despite a challenging environment.",
    "Macroeconomic stability remains firmly in place on the back of prudent fiscal policy and solid growth.",
    "Economic activity benefits from:",
    "Growth projections and milestones:",
    "Fiscal revenue impact from oil:",
    "Fiscal policy is geared toward striking the difficult balance between attending to public needs and supporting macroeconomic stability.",
    "The fiscal situation remains broadly satisfactory:",
    "Revenue mobilization challenges:",
    "Policy emphasis:",
    "Ensuring that the local private sector benefits from large-scale projects is central to improving living standards.",
    "Key priorities and actions:",
    "Governance measures welcomed by the mission:",
    "Importance of careful design:",
    "The IMF team met with:",
    "Staff also exchanged views with representatives of the private sector and the donor community.",
    "The IMF team thanked the authorities for their hospitality and for the fruitful dialogue.",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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