Benin : Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report
IMF Staff Country Reports, December 26, 2019
Source details
- Canonical URL
- Benin : Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report
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Bibliographic details
- Published: December 26, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524696.002
Program implementation and policy assessment
- Program implementation continues to be "very satisfactory."
- The macroeconomic and structural policies outlined by the authorities are "adequate to pursue the program’s objectives."
- Risks to program implementation are deemed "manageable."
Economic performance and external context
- Benin’s economic performance remains strong despite:
- a less supportive external environment, and
- the border closure with Nigeria.
External debt developments and implications
- There has been a "significant increase in the share of external debt in total debt in the past two years," which "warrants caution."
- Recent operations:
- A debt reprofiling operation and a Eurobond issuance have:
- contributed to lowering borrowing costs,
- diversified the financing structure, and
- extended debt maturity.
- These operations "can also generate new vulnerabilities" that require mitigation.
Risks and recommended mitigation measures
- Identified need for:
- an enhanced debt management strategy, and
- continued capacity improvements at the debt management office.
Publication metadata and access
- Publication title: Benin: Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report
- Publication date: December 26, 2019
- Pages: 93
- Volume: 2019
- Issue: 398
- Series: Country Report No. 2019/398
- DOI: https://doi.org/10.5089/9781513524696.002
- Stock No: 1BENEA2019003
- ISBN: 9781513524696
- ISSN: 1934-7685
- Format options indicated: "Download PDF" and "More Formats on IMF eLibrary"
- The IMF eLibrary "offers over 25,000 IMF publications in multiple formats."
Subjects and keywords
- Subjects: Capital spending, Expenditure, External debt, Government debt management, Public debt, Public financial management (PFM), Revenue administration
- Keywords: banking sector, Benin's request, Capital spending, CR, deficit, executive board's decision, Global, Government debt management, IMF mission, ISCR, objective, program implementation, West Africa
Benin: Fifth Review under the Extended Credit Facility Arrangement, Request for Extension, and Request for Modification of Performance Criteria-Press Release; and Staff Report — December 26, 2019.
Content in this bundle
- 1benea2019003