Benin: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Benin
January 19, 2021
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The COVID-19 pandemic has severely affected Benin. The authorities’ early and decisive action has helped stave off the spread of the virus, and a sizeable fiscal response has kept a recession at bay. Nevertheless, the economy has suffered a substantial downgrade in its economic outlook, with growth slowing down from 6.9 percent in 2019 to 2 percent in 2020, against an initial projection of 7 percent before the pandemic. Large financing needs, opened by the authorities’ fiscal response to the crisis, have given rise to an urgent balance of payments need.
Subject: COVID-19, Debt sustainability, External debt, Public debt, Revenue administration
Keywords: CR, emergency financing request, financing gap, IMF emergency support, IMF lending tracker, IMF loan assistance, ISCR
Pages:
62
Volume:
2021
DOI:
Issue:
014
Series:
Country Report No. 2021/014
Stock No:
1BENEA2021001
ISBN:
9781513566856
ISSN:
1934-7685
