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The International Monetary Fund (IMF) has agreed to discuss with the Ivorian government a three-year programme to reduce poverty and spur economic growth in Cote d'Ivoire. The decision was based on an assessment by an IMF team that of a preliminary six-month economic programme implemented by the West African nation.
The team, whose 10-day mission ended on Friday, found that there had been "a good execution" of the July-December 2001 Staff Monitored Programme and urged the government to take "all necessary measures" to ensure that it is completed by the 31 December target date, the IMF said in a statement.
Public finance reforms were also generally positive, the team said, but structural reforms needed the government's "greatest attention". The government needs to complete the liquidation of the CAISTAB - the state body that sets the prices of agricultural commodities - and collect money owed to the body, the IMF added. It also needs to make sure all local cocoa industry actors respect free-market regulations governing the sector, the statement said.
The Fund also called for reforms in the energy sector and to state-owed financial institutions.
The poverty reduction and economic recovery programme would run from 2002 to 2004. The IMF is willing to contribute about 50 percent of the 600 billion to 700 billion CFA (between US $848 million and US $988 million) it requires, the statement said.
The IMF had suspended ties with Cote d'Ivoire following a December 1999 coup d'etat.
This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions
