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International Monetary Fund: the Board of Directors concludes the first reviews under the FEC/MEDC agreements

07/12/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le Conseil d' administration du Fonds monétaire international (IMF Old Style”, "serif"">)

concluded the first reviews under the Extended Credit Facility (FEC) and Extended Credit Mechanism (MEDC) agreements for Côte d'Ivoire.

On May 24, the IMF Executive Board approved the 40-month FEC/MEDC agreements with a total access of 2,601.6 million SDRs (approximately 3.5 billion US dollars or 400% of Côte d'Ivoire's quota in the IMF). The first reviews of these agreements that have been completed allow Côte d'Ivoire to immediately access the second disbursement for a total amount of 371.657 million SDRs or 495.288 million US dollars. As part of the FEC/MEDC agreements, the authorities began decisive fiscal consolidation in 2023, in particular by increasing domestic revenue mobilization

.

Likewise, the implementation of the development plan was continued through major structural reforms. This plan aims to improve the business climate and the participation of the private sector in the country's development.

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