Benin: Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

Author: International Monetary Fund. African Dept.

Third Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Benin

Volume/Issue: Volume 2018 Issue 364

Publication date: December 2018

ISBN: 9781484389911

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Topics covered in this book

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International - Economics , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , executive board discussion , authorities' intention , Benin's request , draft budget , WAEMU deficit criterion , Capital spending , Current spending , West Africa , Africa

Also of interest

Malawi

Peru

Summary

The growth momentum continues, driven by strong port activity, high cotton production, and the recovery of the Nigerian economy. The 2019 budget will bring the commitment-based fiscal deficit below the WAEMU convergence criterion of 3 percent of GDP next year. Program implementation remains satisfactory with all end-June 2018 quantitative performance criteria (QPCs) met; but the continuous QPC on non-accumulation of new domestic arrears was breached over March-June due to an institutional oversight.