{
  "title": "Benin: 2022 Article IV Consultation and Requests for an Extended Arrangement under the Extended Fund Facility and an Arrangement under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Benin",
  "publication": "IMF Staff Country Reports, July 25, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/07/25/benin-2022-article-iv-consultation-and-requests-for-an-extended-arrangement-under-the-521305",
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  "summary": "This paper presents Benin’s 2022 Article IV Consultation and Requests for an Extended Arrangement under the Extended Fund Facility (EFF) and an Arrangement under the Extended Credit Facility (ECF).",
  "sections": [
    {
      "heading": "Macroeconomic policy and fiscal framework",
      "content": "- Revenue mobilization is identified as the cornerstone of the authorities’ reform agenda.\n- Revenue mobilization, together with better spending prioritization and improved efficiency, will help create fiscal space to support Benin’s development and security needs while preserving debt sustainability.\n- The IMF-supported EFF/ECF is described as large and front-loaded and intended to be complemented by strong technical and financial support from development partners.\n- Achieving the program’s goals will require continued commitment to clearly communicated reforms and external support."
    },
    {
      "heading": "Governance, rule of law, and AML/CFT",
      "content": "- A steadfast implementation of the recently adopted action plan for Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) is emphasized.\n- Further strengthening of the rule of law and governance is presented as essential to consolidate foundations for sustained private sector-led growth."
    },
    {
      "heading": "Development focus, equity, and security",
      "content": "- The program is explicitly focused on “development with a human face” given Benin’s relatively large level of income inequality.\n- Policy priorities include enhanced access to basic public services and improved state presence in vulnerable areas.\n- These priorities are consistent with the authorities’ “civilian approach” to mitigating security risks."
    },
    {
      "heading": "Climate resilience and structural priorities",
      "content": "- Ongoing efforts to enhance resilience to climate change are highlighted as important complementary objectives to the fiscal and governance agenda.\n- The report links structural reforms, governance improvements, and climate resilience to the goal of broad-based private sector-led growth.\n\n---\n\n Content in this bundle\n\n- Benin: IMF Staff Report Excerpts\n  - Benin: IMF Staff Report Excerpts (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Benin: IMF Staff Report Excerpts (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: July 25, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400217777.002",
    "Revenue mobilization is identified as the cornerstone of the authorities’ reform agenda.",
    "Revenue mobilization, together with better spending prioritization and improved efficiency, will help create fiscal space to support Benin’s development and security needs while preserving debt sustainability.",
    "The IMF-supported EFF/ECF is described as large and front-loaded and intended to be complemented by strong technical and financial support from development partners.",
    "Achieving the program’s goals will require continued commitment to clearly communicated reforms and external support.",
    "A steadfast implementation of the recently adopted action plan for Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) is emphasized.",
    "Further strengthening of the rule of law and governance is presented as essential to consolidate foundations for sustained private sector-led growth.",
    "The program is explicitly focused on “development with a human face” given Benin’s relatively large level of income inequality.",
    "Policy priorities include enhanced access to basic public services and improved state presence in vulnerable areas.",
    "These priorities are consistent with the authorities’ “civilian approach” to mitigating security risks.",
    "Ongoing efforts to enhance resilience to climate change are highlighted as important complementary objectives to the fiscal and governance agenda.",
    "The report links structural reforms, governance improvements, and climate resilience to the goal of broad-based private sector-led growth.",
    "**Benin: IMF Staff Report Excerpts**"
  ],
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