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Ivory Coast economy to grow by 8.5% in 2016, inflation to remain subdued - IMF

Ivory Coast economy to grow by 8.5% in 2016, inflation to remain subdued - IMF

Ivory Coast

The International Monetary Fund (IMF) says Ivory Coast’s economy will grow by 8.5 percent this year, slightly lower from an earlier forecast of 8.6 percent in 2015.

In consultation with Ivorian authorities, the fund had sent a team to review the country’s economic performance over a period of two weeks .

In a statement, the IMF further added that inflation in the west African economy is expected to remain low and economic activity was buoyant in most sectors of the country in 2015.

However, the IMF figure is lower than the figure of 9.8 percent that the budget ministry had forecast at the begining of this year.

Ivory Coast, the world’s top cocoa producer has rebounded from a decade of political turmoil to become one of the best economic performers on the continent.

The assessment comes at a time that the country is recovering from a terror attack at a beach resort in Grand Bassam that left about 22 people dead including the assailants

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