Benin : First Review Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criterion, Request for Program Extension and Rephasing of Performance Criteria - Staff Report; Press Release; and Statement by the Executive Director for Benin

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Benin : First Review Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criterion, Request for Program Extension and Rephasing of Performance Criteria - Staff Report; Press Release; and Statement by the Executive Director for Benin
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Volume/Issue:
2011/60
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
March 2011
DOI:
http://dx.doi.org/10.5089/9781455220014.002
ISBN:
9781455220014
ISSN:
1934-7685
Page:
65
Performance under the Extended Credit Facility (ECF) program has been mixed. The revenue slippage was addressed partially with corrective actions. IMF staff supports the authorities' request for a waiver of a missed performance criterion and recommends the completion of the first review. The collapse of a number of unauthorized microfinance institutions has not had a measurable impact on the financial sector. Ex post assessment of performance under the 2005-09 poverty reduction and growth facility program highlighted progress in macroeconomic stabilization but weaknesses in growth performance.
Article

Benin

Author(s):
International Monetary Fund
Published Date:
March 2011
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