Le gouvernement béninois a à travers un communiqué annoncé que le International Monetary Fund (IMF) has disbursed 40 billion FCFA for the notable advances reported in its management of the Extended Credit Mechanism (MEDC) and the Extended Credit Facility (FEC) program.

The press release from the Beninese government mentions that the International Monetary Fund (IMF) confirms a strengthening Beninese economy and notable progress made in implementation of structural reforms that have made it possible to continue fiscal consolidation. The aim is to assess recent economic developments and Benin's progress in meeting its commitments under this IMF-supported program. In the press release, it is noted that “the Fund notes robust revenue mobilization and prioritization of expenditure to preserve social programs and help address Benin's significant development needs and security challenges.” The government also specified that the Fund observed an expansion of economic activity, increasing by 6.3% in 2022

Thanks to this good momentum, the IMF and Benin reached an agreement at the end of the second review under the MEDC/FEC that allows for a new disbursement of 68 million US dollars, which will bring the level of cumulative disbursement to approximately 360 million dollars.