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Benin’s economy grew by 6.7 per cent in 2018 -driven by strong agricultural production and port activity, according to the International Monetary Fund (IMF)
An IMF delegation led by Luc Eyraud visited Cotonou to discuss the 2019 Article IV Consultation and fourth review of the three-year economic and financial programme under the extended credit facility (ECF) arrangement with the Republic of Benin.
According to Eyraud, Benin’s medium-term outlook continues to be favourable, with economic growth projected at 6.7 per cent over 2019-2024, driven by high agriculture production, rising private investment and the development of new sectors such as tourism and the digital economy.
“Performance under the IMF-supported program was satisfactory in 2018. All program monitoring indicators (quantitative and structural) by December 2018 were met. Sound policies implemented by the authorities in the context of the program and the country’s good economic performance have supported a successful Eurobond issuance in March 2019”, he adds.
