Cote D'Ivoire: Request for an Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cote D'Ivoire

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2016 Issue 383

Publication date: December 2016

ISBN: 9781475561265

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , debt , government , Ivorian authorities , infrastructure gap , balance of payments position , Côte d'Ivoire's economy , prudent management , Debt sustainability , Global , West Africa

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Summary

This paper discusses Côte D’Ivoire’s Requests for an Extended Arrangement Under the Extended Fund Facility (EFF) and an Arrangement Under the Extended Credit Facility (ECF). Extending the gains of 2015, solid economic and fiscal performance continued in 2016. Strong investment and private consumption contributed to real GDP growth estimated at about 9 percent in 2015. In 2016, booming extractive industries and rising domestic demand supported activity in the commercial sector, which should sustain GDP growth at about 8 percent. The macroeconomic outlook remains favorable, but structural bottlenecks pose challenges to sustained strong growth. The IMF staff supports the authorities’ request for the ECF and EFF arrangements.