IMF staff team completes mission in Ivory Coast

A team from the International Monetary Fund has concluded negotiations with Ivory Coast on a new three-year economic program.

The program could be supported by the IMF through Arrangements under the Extended Credit Facility and the Enhanced Credit Facility.

The team met with Ivorian authorities from June 24 to July 7 to discuss policies that would further enhance the West African country’s impressive economic performance.

Growth in the West African powerhouse has been formidable and the government continues to focus on infrastructure projects, job creation, and improving its business climate to lure investors after years of political paralysis.

The IMF has projected the country’s GDP growth for 2016 to be about 8 percent, supported by the dynamism of the secondary and tertiary sectors.

In 2015, Ivory Coast experienced a double digit growth surpassing the IMF’s figure of 8.6 percent.

The country’s economy grew by 10.3 per cent in line with a promise made by President Alassane Ouattara during the elections.

A follow-up IMF mission is expected later in the year to continue discussions on a new IMF supported economic and financial program.