Earth News from TerraDaily.com
IMF approves $574 mn disbursement for Ivory Coast
Washington, April 8 (AFP) Apr 08, 2024
The International Monetary Fund announced Monday that it had approved the latest tranche of financing for Ivory Coast, worth more than $570 million, following a staff visit to the West African country.

The announcement follows the successful completion of the second semi-annual review of Ivory Coast's economic reform program, and the first review of its new climate change reform program, the IMF said in a statement.

The funds, worth some $574 million, still require approval by the IMF's executive board.

"The authorities and staff agreed on key policy parameters including further revenue-based fiscal consolidation to reduce the fiscal deficit to 3 percent of GDP by 2025," IMF mission Chief Olaf Unteroberdoerster said in a statement.

Other priorities included "structural reforms which will continue to further strengthen domestic revenue mobilization, public financial management, and governance," he added.

Unteroberdoerster said the Ivory Coast economy remained resilient "despite a difficult external environment," adding that growth remained robust last year, while inflation fell.

The IMF predicts that the economy, which has seen more than a decade of robust growth, will expand by 6.6 percent this year, making it one of the most dynamic in the region.

But the country remains dependent on external aid, including the IMF.





Space News from SpaceDaily.com
China shares moon rocks with U.S.and 5 other nations
China launches three astronauts to Tiangong space station
SpaceX launches 28 Starlink Internet satellites from Florida

24/7 Energy News Coverage
Trump signs order to ramp up US deep-sea mining
Nigeria court orders seizure of 73 properties linked to Chinese scam suspects
China says wind and solar energy capacity exceeds thermal for first time

Military Space News, Nuclear Weapons, Missile Defense
How Space Exploration Opens Up New Horizons for Global Security and Governance
Iran's defence, missiles not part of US nuclear talks says foreign office
Hegseth dismisses Pentagon advisory committees

24/7 News Coverage
Trump scraps US office on climate diplomacy
China says US deep-sea mining plan 'violates international law'
India, Pakistan and threats of a water war: what we know


ADVERTISEMENT



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.