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Frederick C. Stapenhurst and Riccardo Pelizzo

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund

Niger has experienced a significant program interruption. Executive Directors supported the efforts to resume the economic and structural reform program interrupted, and restore budgetary transparency, improve governance, and accelerate structural reforms. They welcomed the efforts to resume financial relations with development partners, maintain social and political stability, and stressed the need for fiscal consolidation and monitoring of banks' compliance with prudential regulations. They urged the authorities to continue efforts to improve quality and timeliness, inclusive of social data.

International Monetary Fund

Niger’s sociopolitical environment remains fragile, with a continuation in early 2003 of the social tensions that surfaced in 2002. In the wake of a satisfactory macroeconomic performance in 2002, activity has continued to be buoyant in all sectors of the economy, particularly in the construction and trade sectors, and together with the onset of a favorable rainy season, has supported the economic environment underlying the program for 2003. The broadly satisfactory track record of Niger in policy implementation has continued in 2003.

International Monetary Fund

This paper discusses key findings of the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) for Niger. Growth prospects for 2007 are favorable, particularly because of strong agricultural production and buoyant investments. Inflation remains low. Growth prospects for the medium term have been improved by the rising price of uranium, which supports continued exploration and development of existing mines, although insecurity in the northern mining areas, if not checked, could slow the expansion. The IMF staff recommends completion of the review.

International Monetary Fund

This paper assesses Niger’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Waiver of Performance Criterion and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). Program implementation remained on track at end-September 2002. All nine performance criteria and benchmarks were observed, except for a small and temporary accumulation of external payments arrears and a slight overshooting of wage bill benchmark of 2 percent. Corrective measures to strengthen debt management and reinforce the control of the wage bill were taken.

International Monetary Fund

This paper evaluates Niger’s 2001 Article IV Consultation, the Second Review and Second Annual Program Under the Poverty Reduction and Growth Facility (PRGF) Arrangement, and a Request for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). The corrective measures taken by the authorities since June 2001 have been successful in bringing the program back on track. All end-September 2001 quantitative performance criteria and benchmarks were met, except for a small and temporary accumulation of external payments arrears, for which the authorities are requesting a waiver.

International Monetary Fund

This paper focuses on Niger’s 2004 Article IV Consultation, Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criterion. Niger’s macroeconomic performance has been satisfactory in 2002 and 2003, notwithstanding the adverse impact of the crisis in Côte d’Ivoire and large fluctuations in agricultural output owing to uneven rainfalls. Real GDP growth is estimated to have increased to 5.3 percent in 2003, from 3.0 percent in 2002, owing to a bumper crop made possible by favorable weather conditions.

International Monetary Fund

This paper evaluates Niger’s Third Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement and Requests for Modification and Waiver of Performance Criteria. Performance under the program at end-December 2001 was broadly satisfactory, despite delays in foreign assistance disbursements and recurring weaknesses in program implementation owing to limited institutional capacity. At end-December 2001, eight of the eleven quantitative and structural benchmarks were met. The program remained on track at end-March 2002 as the authorities took expenditure-reducing measures to correct for budgetary slippages that occurred in the last quarter of 2001.

International Monetary Fund

This paper evaluates Niger’s 2001 Article IV Consultation, the Second Review and Second Annual Program Under the Poverty Reduction and Growth Facility (PRGF) Arrangement, and a Request for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). The corrective measures taken by the authorities since June 2001 have been successful in bringing the program back on track. All end-September 2001 quantitative performance criteria and benchmarks were met, except for a small and temporary accumulation of external payments arrears, for which the authorities are requesting a waiver.