The Ivorian government and the IMF signed a groundbreaking agreement on October 9, 2024, providing Côte d’Ivoire with $825 million for economic development and climate initiatives. The deal includes a $498 million disbursement under the Extended Credit Facility and Extended Fund Facility arrangements, along with a $327 million allocation from the Resilience and Sustainability Trust.
These funds aim to enhance macroeconomic stability and drive structural economic transformation in Côte d’Ivoire. Despite a slight dip in GDP growth to 6.1% in 2024, the country’s economy remains resilient. The government is focused on reducing the budget deficit to 4% of GDP while maintaining an inflation rate around 3.8%.
The agreement also highlights key reforms, such as revenue measures and fiscal consolidation efforts, to strengthen governance and revenue mobilization. Climate change mitigation and adaptation are central to the deal, emphasizing the importance of green financing for sustainable development.
IMF Deal and Sustainable Growth
Côte d’Ivoire, with its growing population and economic influence in West Africa, is poised for sustainable growth through effective implementation of these reforms and IMF funds. This partnership showcases the country’s commitment to economic stability and growth, supported by the IMF’s dedication to developing economies.
Looking ahead, the successful execution of these initiatives will be pivotal in realizing Côte d’Ivoire’s economic transformation and development goals.