The International Monetary Fund (IMF) will disburse 68 million dollars to Benin.
This endowment aims to help Benin meet urgent funding needs, support the country's National Development Plan focused on achieving the Sustainable Development Goals (SDGs) and catalyze donor support.
According to the institution, the political and economic responses launched by the Beninese authorities have made it possible to strengthen the resilience of the economy in the face of various exogenous shocks, adding that it is one of the few countries that has maintained positive economic growth despite successive Covid crisis and the Ukraine war.
Benin has undertaken reforms to strengthen its economic stability while addressing the security challenges and social needs of its population.
"The authorities' balanced policy response to external shocks, supported by advance financing from the EFF and FDEF, has enabled Benin to cope with unforeseen spending needs associated with the protracted war in Ukraine and the spread of conflict risks. regional security, while preserving macroeconomic stability,” declared the IMF.
"The structural reform program has made progress, including the completion and publication of the IMF governance diagnosis, the adoption of a financial inclusion strategy, the digitalization of land title applications, and the presentation to Parliament of a bill to ensure the sustainability of the authorities' flagship school feeding program," the IMF said.