Benin: 2012 Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement—Staff Report; Staff Supplements; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Benin
IMF Staff Country Reports, January 11, 2013
Source details
- Canonical URL
- Benin: 2012 Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement—Staff Report; Staff Supplements; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Benin
Other formats
Bibliographic details
- Published: January 11, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475592917.002
Summary findings
- Benin has made significant progress in consolidating macroeconomic stability under the IMF-supported program.
- Prudent fiscal policy has kept fiscal deficits at manageable levels and is projected to yield a basic primary surplus in 2012.
- The Executive Board suggested that the authorities hold current expenditures to provide space for infrastructure spending and meet medium-term fiscal objectives.
- Benin’s authorities are committed to maintain sound macroeconomic policies, pursue the implementation of critical structural reforms, and take further measures to achieve program objectives.
Macroeconomic outcomes and projections
- Progress toward macroeconomic stability is attributed to the IMF-supported program and prudent fiscal policy.
- A basic primary surplus is projected in 2012.
Fiscal policy guidance and recommendations
- Hold current expenditures to create fiscal space for infrastructure spending.
- Meet medium-term fiscal objectives through continued fiscal consolidation.
- Pursue implementation of critical structural reforms to support program objectives.
Authorities' commitments
- Maintain sound macroeconomic policies.
- Implement critical structural reforms.
- Take further measures as necessary to achieve program objectives.
Thematic coverage (subjects and keywords)
- Subjects: Banking, Commercial banks, External debt, Financial institutions, Financial services, Loans, Microfinance, Public debt
- Keywords: Africa, Beninese authorities, Commercial banks, CR, current account, debt, deficit, disbursement of SDR, executive board's discussion, Global, headline inflation inflation rate, ISCR, Loans, Microfinance, real GDP, reforms to the cotton sector, Sub-Saharan Africa, West Africa
International Monetary Fund — Staff Report (January 11, 2013).