The International Monetary Fund (IMF) has announced that it has completed the latest reviews of the support programs agreed with Benin, paving the way for an immediate disbursement of approximately $118 million.
The IMF approved the seventh review of the programs under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), as well as the fourth and final review of the program under the Resilience and Sustainability Facility (RSF).
In detail, an amount of $36.3 million will be disbursed to Benin under the ECF/EFF programs, bringing the total mobilized since the initial approval in July 2022 to nearly $665 million, according to the IMF statement. In addition, $81.6 million will be provided under the RSF, a mechanism established at the end of 2023 to support climate-related reforms, bringing the total envelope to around $204 million.
The IMF praised the “strong performance” of the program, noting that Benin’s solid fiscal results have helped reduce the public deficit to 3.1% of GDP in 2024.
Benin’s economy thus continues its growth momentum, supported by the performances of the past five years. The IMF forecasts 7.5% year-on-year economic growth for 2025, similar to the rate recorded in 2024, and believes that growth should remain robust in the medium term.
