IMF team visits Abidjan for economy and fiscal year

IMF visits Cote de'Ivoire to discuss fiscal year
IMF visits Cote de'Ivoire to discuss fiscal year

International Monetary Fund (IMF) Africa Assistant Head Dan Ghura headed a team to Abidjan, Ivory Coast, to discuss the 2016 Article IV consultation with officials.

Ghura delivered a statement concerning the economic changes of 2015, budgeting legislation and the National Development Plan for 2016.

According to Ghura, the estimated GDP growth of the Cote d'Ivoire was at 8.6 percent in 2015, with minimal inflation changes. The fiscal deficit was positioned at 3.0 of the GDP, which was 0.7 less than the target from the 2015 budget law.

Ghura stated that the projected macroeconomy of 2016 seems favorable as the GDP is expected to be 8.5 percent and inflation is projected to remain low.

"Staff supports the broad objectives and reforms underlying the National Development Plan for 2016-2020 (NDP) as well as the leading role of the private sector to foster structural transformation," Ghura said.

He spoke on the importance of remaining firm in fiscal policy and working to increase the capital of banks, which in the previous year experienced declines in capital.

Authorities from Cote d'Ivoire have asked that the IMF support the upcoming mission.

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