Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

December 13, 2018

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Summary

The growth momentum continues, driven by strong port activity, high cotton production, and the recovery of the Nigerian economy. The 2019 budget will bring the commitment-based fiscal deficit below the WAEMU convergence criterion of 3 percent of GDP next year. Program implementation remains satisfactory with all end-June 2018 quantitative performance criteria (QPCs) met; but the continuous QPC on non-accumulation of new domestic arrears was breached over March-June due to an institutional oversight.

Subject: Capital spending, Current spending, Expenditure, External debt, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Africa, authorities' intention, Benin's request, Capital spending, Current spending, draft budget, executive board discussion, WAEMU deficit criterion, West Africa

Pages:
92
Volume:
2018
DOI:
https://doi.org/10.5089/9781484389911.002
Issue:
364
Series:
Country Report No. 2018/364
Stock No:
1BENEA2018004
ISBN:
9781484389911
ISSN:
1934-7685

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