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Ivorian economy: Alassane Ouattara hopes to get a $2.6 billion agreement with the IMF by next April at the latest

22/03/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Stabiliser la balance de paiements, c' est l' objectif qui conduit la Côte d' Ivoire à entrer en négociations avec le International Monetary Fund (FMI) afin d' obtenir $2.6 billion in loans.

Trade between Côte d'Ivoire and the International Monetary Fund (IMF) accelerated a few weeks ago. The Ivorian government had maintained contact with the Bretton Woods institution, which has carried out several missions to the country, without requesting greater support since the end of the International Monetary Fund's last three-year program in Côte d'Ivoire in 2019. Taking into account the Ivorian economic situation, Alassane Ouattara hopes to obtain an agreement with the IMF, and thus release a loan of 2.6 billion dollars before the end of the first half of 2023, at the latest next April.

In reality, the government is negotiating two disbursement instruments. These are the Extended Credit Facility (MEDC) and the Extended Credit Facility (ECF). At the end of its mission, the IMF estimated that “Côte d'Ivoire has made significant progress, with a gross domestic product (GDP) that grew by 5.5% in 2022, and a growth forecast of 6.5% for 2023” (after +7.4% in 2021 and +2% in 2020). According to the institution's forecasts, inflation is expected to reach 4% in 2023.

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