Cote d'Ivoire : Second Reviews under an Arrangement under the Extended Credit Facility and the Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

December 15, 2017

Electronic Access:

Free Full Text (PDF file size is 1271 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Context. Meeting the demands of mutinous soldiers and striking civil servants secured social peace and stability. The authorities tightened security measures to address sporadic attacks on police and security installations that occurred over the summer. Economic outlook. Economic growth remains strong despite terms of trade and domestic shocks. Growth is projected to stay above 7 percent per year in 2017–19, with broadly balanced risks to the outlook. Inflation is expected to remain subdued. Program policies. Program performance has been strong in 2017. All end-June 2017 performance criteria and structural benchmarks have been met, and the criteria for end-year are within reach. New revenue mobilization measures and rationalization of current expenditure are projected to limit the fiscal deficit to 3.75 percent of GDP in 2018 and ensure convergence to the WAEMU regional norm of 3 percent of GDP by 2019. Staff views. Staff supports the authorities’ requests for completion of the second reviews of the program supported by the ECF and EFF arrangements, which would release disbursements equivalent to SDR 96.79 million. November 21, 2017

Series:

Country Report No. 17/372