Benin: Fifth Review Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria

Volume/Issue: Volume 2003 Issue 322
Publication date: October 2003
ISBN: 9781451803440
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Topics covered in this book

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Business and Economics , Political Science , Banks and Banking , Exports and Imports , Labor , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , PRGF arrangement , strategy , PRGF loan , civil service reform strategy , implementation , ginning enterprise , saving-investment balance , debt relief , Poverty reduction strategy , West Africa

Summary

Following satisfactory economic and financial performance under the Poverty Reduction and Growth Facility-supported program, performance was mixed. Benin should pursue a prudent debt-management policy with the support of the newly created debt committee. Implementation of the structural reform agenda is of critical importance for achieving the objectives of the Poverty Reduction Strategy Paper. Strengthening of the financial sector and maintaining external debt on a sustainable path is needed in Benin. Risks to the medium-term program remain, but they are manageable.