Another African country has received close to $1 billion from the IMF

Côte d'Ivoire has received another significant financial boost from the International Monetary Fund (IMF), which approved around $833 million following the successful completion of important evaluations under its lending and climate-resilience programs.

The latest transfer brings to an end various IMF-supported agreements that have contributed significantly to the West African nation's economic growth.

“The completion of these final reviews makes available SDR 247.774 million under the EFF, SDR 123.884 million under the ECF, and SDR 243.9 million under the RSF, equivalent to about US$832.8 million,” information on the IMF’s website reads.

“Program implementation under the EFF/ECF-supported program, approved in May 2023 in the amount of SDR 2,601.6 million (equivalent to 400 percent of quota or US$3.5 billion), has remained strong,” it adds.

Since the programs' inception in 2023, authorities have executed several fiscal and structural changes aimed at strengthening public finances, decreasing economic risks, and boosting long-term development prospects.