IMF reaches staff-level deal with Ivory Coast, paving way for $574 mln disbursement

The International Monetary Fund on Monday said its staff reached agreement with authorities from Ivory Coast on a review of two lending programs, which will pave the way for disbursement of $574 million, once approved by the IMF's executive board. The agreement will allow disbursement of a combined $574 million, once approved by the IMF executive board.

The International Monetary Fund on Monday said its staff reached agreement with authorities from Ivory Coast on a review of two lending programs, which will pave the way for disbursement of $574 million, once approved by the IMF's executive board. The IMF said Ivory Coast's performance under its $3.5 Extended Fund Facility (EFF) and Extended Credit Facility (ECF) program and the $1.3 billion Resilience and Sustainability Facility (RSF) program had been satisfactory.

It said a staff-level agreement had been reached on all policies and reform measures in line with the programs' objectives, including further revenue-based fiscal consolidation to reduce the fiscal deficit to 3% of gross domestic product by 2025 and on additional structural reforms. The agreement will allow disbursement of a combined $574 million, once approved by the IMF executive board.

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