Benin: Ex Post Assessment of Longer-Term Program Engagement-An Update

Author: International Monetary Fund

Volume/Issue: Volume 2011 Issue 055

Publication date: February 2011

ISBN: 9781455220021

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Finance , ISCR , CR , government , Benin , revenue , amount , growth performance , Beninese economy , government expenditure-to-GDP ratio , CFA franc , revenue collection , debt relief , tax revenue-to-GDP ratio , poverty-reducing expenditure , Customs revenue , GDP growth , Capital spending , Agricultural commodities , Sub-Saharan Africa , Global

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Republic of Congo : 2001 Article IV

Summary

Benin, a member of the CFA franc zone, has experienced uneven economic progress over the last several decades. It has a long history of engagement with the IMF. This ex post assessment update covers primarily the implementation of the program supported by the 2005–09 poverty reduction growth facility (PRGF) arrangement. In the fiscal area, the overall objective was to increase poverty-reducing spending while maintaining the sustainability of public debt. Prior to the global financial crisis, Benin's economic growth accelerated steadily. External shocks explain some of the growth's underperformance.