The International Monetary Fund (IMF) announced on Wednesday that it has reached a staff-level agreement with authorities in Ivory Coast, setting the stage for a potential disbursement of approximately $740 million.
The agreement follows comprehensive reviews of both the country’s economic reform agenda and its climate change reform initiatives, according to a statement from the IMF.
The Fund praised Ivory Coast’s ongoing progress towards key goals, including reducing macroeconomic imbalances and rebuilding regional reserve buffers. However, the disbursement still requires approval from the IMF’s Executive Board before funds can be released.
“Performance under the two programmes has remained satisfactory,” said Olaf Unteroberdoerster, the head of the IMF delegation involved in the discussions.
He confirmed that Ivory Coast remains committed to a fiscal deficit target of 3 percent of GDP by 2025, in line with the West African Economic and Monetary Union (WAEMU) standards.
In addition to the funding agreement, both parties agreed on a set of structural reforms aimed at boosting domestic revenue, improving public financial management, and strengthening governance frameworks.
According to Unteroberdoerster, Ivory Coast’s economy continues to show resilience, with GDP growth projected to exceed 6 percent in 2025. This anticipated upturn is attributed in part to a recovery in agricultural output and improved terms of trade.
