1. Home
  2. West Africa
  3. Benin
  • News

IMF approves US $14 million loan

The International Monetary Fund (IMF) has approved a US $14 million loan for Benin and expects average real growth of 5.5 percent of gross domestic product over the coming years, an IMF statement said today. The IMF said the government planned new efforts to restructure its economy, privatising firms and reforming the operation of the civil service. Some 18 percent of tax revenue would go toward debt servicing. “Benin has made considerable progress in stabilising the economy and reducing financial imbalances,” the statement said. “However the situation remains fragile and vulnerable to changes in the regional and international environment.” The low-interest loan, issued under the IMF’s concessionary lending programme for poor states, is the second part of a three-year lending programme for the West African country. The text of the IMF statement has been issued on the IRIN-West Africa Extra service. The same text with the addition of a table of Benin’s main economic indicators can be found on the IMF website at http://www.imf.org/external/index.htm
Share this article

Hundreds of thousands of readers trust The New Humanitarian each month for quality journalism that contributes to more effective, accountable, and inclusive ways to improve the lives of people affected by crises.

Our award-winning stories inform policymakers and humanitarians, demand accountability and transparency from those meant to help people in need, and provide a platform for conversation and discussion with and among affected and marginalised people.

We’re able to continue doing this thanks to the support of our donors and readers like you who believe in the power of independent journalism. These contributions help keep our journalism free and accessible to all.

Show your support as we build the future of news media by becoming a member of The New Humanitarian. 

Become a member of The New Humanitarian

Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

Join