IMF Staff Country Reports

Côte d'Ivoire: Second Reviews Under Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review Under the Resilience and Sustainability Facility Arrangement-Press Release; and Staff Report

July 15, 2024

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International Monetary Fund. African Dept. "Côte d'Ivoire: Second Reviews Under Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review Under the Resilience and Sustainability Facility Arrangement-Press Release; and Staff Report", IMF Staff Country Reports 2024, 223 (2024), accessed November 23, 2024, https://doi.org/10.5089/9798400281716.002

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Summary

This paper discusses Côte d'Ivoire’s Second Review under Extended Arrangement under the Extended Fund Facility and under the Arrangement under the Extended Credit Facility, and Request for Modification of Quantitative Performance Criteria, and the First Review under the Resilience and Sustainability Facility Arrangement. Côte d’Ivoire’s economy remains resilient against a still difficult global backdrop. Notwithstanding lower than expected cocoa production, the medium-term outlook remains favorable and has been boosted by still strong consumption and investment demand, as well as new activity in the hydrocarbon exploration and production sector. The authorities remain firmly committed to boosting tax revenue into the medium term, and to implementing the medium-term revenue strategy (MTRS) approved in May 2024. Adoption of a comprehensive MTRS is a significant reform, which provides an overall vision for tax policy and administration reforms to ensure that domestic revenue mobilization is self-sustaining and commands broad public support. The debt management operation has been instrumental in ensuring that debt sustainability risks remain within the moderate rating of debt distress. Maintaining momentum on structural reforms under the program will be critical to support the objectives of the national development plan.

Subject: Climate finance, Debt sustainability, Environment, External debt, Public debt, Revenue administration

Keywords: Administration reform, Climate finance, Debt sustainability, Debt sustainability risk, ECF arrangement, EFF review, Exchange rate, Global, Ivorian authorities, Reform implementation, RSF objective, West Africa

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