 "Ivory Coast secures 3.9 million package from IMF")
The International Monetary Fund (IMF) has reached a staff level agreement with Ivory Coast under its Extended Fund Facility and Extended Credit Facility programs, unlocking about $843.9 million in fresh financing.
The International Monetary Fund (IMF) announced on Tuesday that it has reached a staff level agreement with Ivory coast under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements, paving the way for fresh financing support.
The agreement is expected to unlock disbursements of around $843.9 million once it receives approval from the IMF’s Executive Board.
According to the IMF, the deal underscores continued confidence in Ivory Coast’s economic reforms and resilience, despite ongoing global and regional challenges. The West African nation has remained one of the region’s fastest growing economies, supported by strong public investment in infrastructure and efforts to diversify beyond its traditional reliance on cocoa exports.
Officials noted that the financial support will help bolster Ivory Coast’s foreign reserves, support fiscal stability and strengthen measures aimed at protecting vulnerable households from rising global food and fuel costs. It is also expected to back the government’s reforms in governance, social protection and private sector development.
The IMF’s Executive Board is likely to consider the agreement in coming weeks. Ivory Coast previously secured a multi year program with the Fund in 2023, highlighting its commitment to maintain macroeconomic stability while pursuing inclusive growth.
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