IMF Reaches Staff-Level Agreement with Côte d’Ivoire After Strong Program Performance

An International Monetary Fund (IMF) team, led by Geneviève Verdier, met with Ivorian authorities from April 22 to 30 to assess progress under programs supported by the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF), according to a statement from International Monetary Fund services relayed by the Ministry of Economy, Finance and Budget.

The mission was conducted as part of the sixth and final review under the EFF/ECF arrangements approved by the IMF Executive Board on May 24, 2023, for a total amount of 2.6 billion SDRs (about $3.5 billion). It also covered the fifth and final review under the RSF arrangement approved on March 15, 2024, for an amount of 975.6 million SDRs (around $1.3 billion).

IMF staff and the Ivorian authorities reached a staff-level agreement on the sixth review of the EFF/ECF-supported programs, as well as on the fifth review of the RSF arrangement.

“Performance under the EFF/ECF and RSF programs has been strong. Following in-depth and constructive discussions with the Ivorian authorities, a staff-level agreement was reached both on the assessment of program performance and on short- and medium-term economic policy objectives aimed at preserving macroeconomic gains,” said Verdier at the end of the mission.

The authorities successfully met their main economic objectives, including reducing macroeconomic imbalances, contributing to the rebuilding of regional reserves, advancing economic transformation, and implementing adaptation and mitigation reforms to strengthen climate resilience.

Subject to approval by the IMF Executive Board, the reviews are expected to unlock two disbursements totaling about $843.9 million, including $509.5 million under the EFF/ECF arrangements and $334.4 million under the RSF.

During the visit, the IMF team met with Vice President Tiémoko Meyliet Koné, Prime Minister Robert Beugré Mambé, Minister of Economy, Finance and Budget Adama Coulibaly, Minister of Mines, Petroleum and Energy Sangafowa Coulibaly, Minister of Planning and Development Souleymane Diarrassouba, as well as senior government officials, representatives of the Central Bank of West African States, the private sector, and development partners.