Côte d'Ivoire: 2024 Article IV Consultation, Third Reviews Under Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Request for Modification of a Quantitative Performance Criterion, and Second

Côte d’Ivoire’s impressive economic resilience and commitment to economic reforms have allowed it to emerge as a regional anchor of growth and stability. The EFF/ECF-supported program approved in May 2023 (400 percent of quota), has helped to safeguard macroeconomic stability, as well as a moderate rating of debt distress, while growing challenges from climate change are being addressed under the recently approved RSF arrangement (150 percent of quota). The authorities’ ongoing commitment to reforms under both programs should support Côte d’Ivoire’s transformation towards upper middleincome status over the medium-term and enhance its resilience to climate change. At the same time, longstanding structural impediments, including high and persistent informality (Article IV focus), along with gaps in gender equality, present challenges to higher and more inclusive growth, a wider tax base, and hinder deeper economic transformation. Ahead of presidential elections in late 2025, the medium-term outlook remains favorable, and risks appear broadly balanced, both of which are reflected in recent sovereign credit ratings upgrades by ratings agencies.