THE IMF declared on Monday that its staff has reached an agreement with authorities from Cote d’Ivoire concerning a review of two lending programmes. This agreement, once approved by the IMF’s executive board, is set to facilitate the disbursement of $574 million to the country.
According to the IMF, Cote d’Ivoire’s performance under its $3.5bn Extended Fund Facility (EFF) and Extended Credit Facility (ECF) programme, along with the $1.3bn Resilience and Sustainability Facility (RSF) programme, has been deemed satisfactory.
The agreement encompasses all policies and reform measures in alignment with the objectives of the lending programmes. This includes plans for further revenue-based fiscal consolidation aimed at reducing the fiscal deficit to 3 percent of the gross domestic product by 2025, as well as additional structural reforms.
Upon approval by the IMF executive board, the agreement will enable the disbursement of a combined $574 million to Cote d’Ivoire, marking a significant step forward in the country’s economic development and sustainability efforts.