While on a visit to Benin, Christine Lagarde, the director of the International Monetary Fund applauded the performance of the economy of the country. She also announced that in 2018, growth forecasts could reach 6%. The result according to her is because the government respects the commitments it made.
“You had the ambition to tackle poverty reduction by spending better and more in the field of education and health, she said, “and you had the ambition to establish the rules of good governance to encourage investors to look at Benin with a favorable perspective. “I believe that in these major areas, clearly your government is demonstrating that it can keep its word, she added.
Benin has concluded with the international financial institution an economic and financial program of 127 million euros, support to reduce poverty in the country. According to the president, his country is pacing the paths of rebirth.
“Through work, seriousness, good governance, well-informed reforms, sacrifice, the fight against impunity, we can get out of poverty and begging,” Benin President Patrice Talon asserted.
Despite this support, the Beninese economy remains dependent on Nigeria. The oil giant suffers drastic drop in oil prices and the consequences are reflected in neighboring countries.