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Ph: DR: Second review under the MEDC-FEC: The IMF announces a disbursement of about 40 billion FCFA and an economic growth rate of 6.3% for 2022
Second review under the MEDC-FEC: The IMF announces a disbursement of about 40 billion FCFA and an economic growth rate of 6.3% for 2022
The International Monetary Fund (IMF) confirms that Benin’s economy is solidifying and significant progress has been made in the implementation of structural reforms that have made it possible to continue fiscal consolidation. The Fund notes robust revenue mobilization and prioritization of expenditures to preserve social programs and help address Benin’s significant development needs and security challenges. (See the Press Release)
The Fund observed an expansion of economic activity up 6.3% for 2022. Thanks to this good momentum, the IMF and Benin reached an agreement at the end of the second review under the MEDC/FEC which enables a new disbursement of US$68 million, which will bring the cumulative disbursement level to approximately US$360 million.
With this new disbursement, the IMF is encouraging Benin’s solid performance under the program. The Fund thus reaffirms its confidence in the public policies conducted by the Government of President Patrice TALON and its satisfaction with the pace of implementation of the reforms.
