Benin: 2010 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Staff Supplements and Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Benin

IMF Staff Country Reports, July 8, 2010

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Canonical URL: Benin: 2010 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Staff Supplements and Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Benin

Goal of the last ECF arrangement (2005–09): support Benin’s strategy to achieve higher sustainable growth and reduce poverty while preserving macroeconomic stability and reducing vulnerabilities to external shocks.
Program outcome: the program achieved most of its objectives.
Main macroeconomic challenge: mitigate the impact of the crisis in the short term, while reaching higher sustainable growth over the medium term.
Government program appraisal: the government’s economic program is geared properly to pursue these objectives.
Structural reform agenda: appropriately ambitious.

Short-term priority:
- Mitigate the impact of the crisis in the short term.
Medium-term priority:
- Reach higher sustainable growth over the medium term.
Policy orientation:
- Continue implementation of the government’s economic program as currently designed to address both short-term stabilization and medium-term growth objectives.
- Advance the appropriately ambitious structural reform agenda to support sustained improvements in growth and resilience.

Subject: Expenditure, External debt, Fiscal policy, Public debt, Public financial management (PFM)
Keywords: amount equivalent to SDR, CR, customs department, deficit, ECF arrangement, financing, financing gap, Global, growth program, ISCR, real GDP, West Africa