IMF Completes Final Reviews of Benin’s EFF, ECF and RSF Programmes
The Executive Board of the International Monetary Fund (IMF) completed the seventh and final review of Benin’s Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements, and the fourth and final review under the Resilience and Sustainability Facility (RSF) arrangement.
Benin has completed its seventh and final review of its Extended Credit Facility (ECF) arrangements, and the fourth and final review under the Resilience and Sustainability Facility (RSF) arrangement with the IMF.
The review which was led by the Executive Board of the IMF will oversee the immediate disbursement US$ 118 million to the Benin government with US$ 36.3 million being under the EEF/ECF arrangement and the remaining US$ 81.6 million under the RSF arrangement.
This now brings Benin’s total disbursement to about US$ 664.7 million under the EEF/ ECF arrangement and about US$ 204 million under the RSF arrangement.
Other economic milestones achieved under the program includes a reduction in its fiscal deficit to 3.1 percent of GDP in 2024 and a sustained Domestic revenue mobilization.
According to the press release, Program performance under the EFF/ECF has also been strong, with all end-June 2025 quantitative performance criteria and end-September 2025 indicative targets met and structural benchmarks implemented, despite the fact that there has been a short delay for one benchmark.
With the RSF, the authorities completed the remaining six reform measures under the arrangement, making progress in enhancing climate-related public financial management, reforming water tariffs, rolling out an agricultural insurance scheme, strengthening social protection, and improving the climate-financial-information architecture.
Following the Executive Board Discussion Deputy Managing Director, Mr. Okamura charged the Benin authorities to maintain the fiscal discipline and the reform momentum and strengthen inclusive policies, while remaining vigilant of regional and global risks.
“Benin has completed its Fund-supported programs with a strong performance. The authorities’ commitment to economic reform has yielded tangible dividends, with higher and more stable growth, favourable access to international markets, and continuous support from development partners. Going forward, the authorities must maintain fiscal discipline and the reform momentum and strengthen inclusive policies, while remaining vigilant of regional and global risks” –He added
Benin’s programme with the International Monetary Fund began in 2022, when the country secured support under the EFF and ECF to strengthen fiscal stability, support structural reforms and sustain economic growth following global shocks. The arrangement was later complemented by the RSF, aimed at helping Benin address climate risks and build long-term economic resilience.
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