Benin: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Benin

January 19, 2021

Preview Citation

Format: Chicago

Benin: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Benin, (USA: International Monetary Fund, 2021) accessed November 17, 2024

Summary

The COVID-19 pandemic has severely affected Benin. The authorities’ early and decisive action has helped stave off the spread of the virus, and a sizeable fiscal response has kept a recession at bay. Nevertheless, the economy has suffered a substantial downgrade in its economic outlook, with growth slowing down from 6.9 percent in 2019 to 2 percent in 2020, against an initial projection of 7 percent before the pandemic. Large financing needs, opened by the authorities’ fiscal response to the crisis, have given rise to an urgent balance of payments need.

Subject: COVID-19, Debt sustainability, External debt, Public debt, Revenue administration

Keywords: CR, Emergency financing request, Financing gap, IMF emergency support, IMF lending tracker, IMF loan assistance, ISCR

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/014
Stock No:

1BENEA2021001
ISBN:

9781513566856
ISSN:

1934-7685

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