## Benin: Third Review Under the Extended Credit Facility Arrangement

_IMF Staff Country Reports, May 2, 2012_

## Source details

**Canonical URL:** [Benin: Third Review Under the Extended Credit Facility Arrangement](https://www.imf.org/en/publications/cr/issues/2016/12/31/benin-third-review-under-the-extended-credit-facility-arrangement-25879)

## Other formats

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## Bibliographic details
- Published: May 2, 2012
- Series: IMF Staff Country Reports

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### Major findings
- The re-election of the President and the regained majority in Parliament have provided a window of opportunity for reforms.
- All performance criteria and most quantitative targets have been met.
- Progress in implementing structural reforms was mixed.
- The introduction of critical customs reforms met with strong initial resistance, leading to a sharp fall in customs revenue in the second half of 2011.
- The financial system remains sound, but supervision needs to be strengthened.

### Fiscal and revenue developments
- Customs reforms were central to revenue efforts; resistance to these reforms coincided with a sharp fall in customs revenue in the second half of 2011.
- Performance criteria and most quantitative targets related to fiscal policy were met (no additional numeric targets are specified in the source text).

### Structural reforms
- Mixed progress in implementation: some reforms advanced, while others faced obstacles and implementation delays.
- Long-awaited customs reform was introduced but encountered strong initial resistance affecting revenue outcomes.

### Financial sector
- The financial system is described as sound.
- Weakness identified: financial supervision needs to be strengthened to safeguard stability and support reform implementation.

### Subjects and keywords (as provided)
- Subject: Capital spending, Commodities, Current spending, Expenditure, Fuel prices, Gasoline, Inflation, Prices
- Keywords: basic salary, broad money, Capital spending, CR, Current spending, customs, customs revenue, Europe, Fuel prices, Gasoline, Global, Inflation, ISCR, long-awaited customs reform, market, price, price of gasoline, West Africa

*Benin: Third Review Under the Extended Credit Facility Arrangement — IMF Staff Country Report (May 2, 2012).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/benin-third-review-under-the-extended-credit-facility-arrangement-25879_