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Business and Economics > Budgeting

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Cover IMF Staff Country Reports
Niger: 2022 Article IV Consultation and Second Review under the Extended Credit Facility Arrangement, and requests for a Waiver of Non-observance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger
International Monetary Fund. European Dept.
Niger’s political landscape is broadly stable, but the country continues to face daunting development challenges against a backdrop of fragility, which are exacerbated by a decade of conflict in the Sahel and exposure to climate shocks. Low rainfall in 2021, pushed an estimated 4.4 million people into acute food insecurity this year. Russia’s war in Ukraine added to food, petroleum, and fertilizer price pressures. Economic growth is projected to accelerate from 1.4 percent in 2021 to 7.1 percent this year, driven by private investment and the recovery in agriculture. While debt vulnerabilities have increased, the updated DSA deems debt as sustainable, and the risk of external and overall debt distress is still rated “moderate”.
Keywords:
reform agenda; governance framework; ECF arrangement; debt vulnerability; authorities' strategy; address state fragility; Debt sustainability analysis; West Africa; Global; Sub-Saharan Africa; Africa
Cover IMF Staff Country Reports
Niger: 2022 Article IV Consultation and Second Review under the Extended Credit Facility Arrangement, and requests for a Waiver of Non-observance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Niger
International Monetary Fund. European Dept.
This paper presents Niger’s 2022 Article IV Consultation, Second Review under the Extended Credit Facility Arrangement, and Requests for a Waiver of Non-Observance of Performance Criterion and Modification of Performance Criteria. Niger’s near and medium-term economic outlook remains broadly favorable with growth expected to bounce back this year and accelerate thereafter driven by private investment and oil exports through the new pipeline. Despite an expected rebound in growth this year and acceleration over the near term, Niger continues to face daunting development challenges, while being exposed to a deteriorating security situation in the Sahel and recurrent climate shocks. Program performance has been broadly on track. Overall macroeconomic performance is satisfactory, and the implementation of the structural reform agenda is gaining momentum, including on governance-related issues. Key priorities to build resilience to shocks include improving domestic revenue mobilization and spending quality and creating an enabling environment for economic diversification and private sector development.
Keywords:
reform agenda; governance framework; ECF arrangement; debt vulnerability; authorities' strategy; address state fragility; Debt sustainability analysis; West Africa; Global; Sub-Saharan Africa; Africa
Cover IMF Staff Country Reports
Niger: Sixth Review Under the Extended Credit Facility and Request for Waiver for Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Niger
International Monetary Fund. African Dept.
With one of the world’s lowest levels of human development, Niger has enormous needs but only limited own resources to meet them. Insecurity in the Sahel, climate change, and low prices for its uranium exports are further challenges. Niger’s economy performed reasonably well before the outbreak of the COVID-19 pandemic. GDP growth exceeded 6 percent and large foreign projects were attracted, notably a pipeline for the export of crude oil. A new government will take office in April 2021.
Keywords:
ISCR; CR; authority; spending quality; ECF arrangement; disbursement of SDR; SDR
Cover IMF Staff Country Reports
Niger: Sixth Review Under the Extended Credit Facility and Request for Waiver for Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Niger
International Monetary Fund. African Dept.
With one of the world’s lowest levels of human development, Niger has enormous needs but only limited own resources to meet them. Insecurity in the Sahel, climate change, and low prices for its uranium exports are further challenges. Niger’s economy performed reasonably well before the outbreak of the COVID-19 pandemic. GDP growth exceeded 6 percent and large foreign projects were attracted, notably a pipeline for the export of crude oil. A new government will take office in April 2021.
Keywords:
ISCR; CR; authority; spending quality; ECF arrangement; disbursement of SDR; SDR; Nigerien authorities; program implementation; asset declaration; revenue collection; Budget planning and preparation; Debt sustainability analysis; Global; West Africa
Cover IMF Staff Country Reports
Niger: Third Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Request for Augmentation of Access-Press Release; Staff Statement; and Statement by the Executive Director for Niger
International Monetary Fund. African Dept.
Niger faces daunting development challenges, aggravated by terrorist incursions, low uranium export prices, and climate change. Nonetheless, GDP grew by a respectable 5 percent in the past two years. It should average 7 percent over the next five years thanks to reforms, substantial donor support, several large-scale projects, and a one-time boost from the projected commencement of crude oil exports in 2022.
Keywords:
ISCR; CR; government; Nigerien authorities; authority; criterion; debt; Executive Board's discussion; borrowing policy; Niger quota; state-owned enterprise reform; Stress testing; Debt sustainability analysis; West Africa
Cover IMF Staff Country Reports
Niger: Third Review Under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Request for Augmentation of Access-Press Release; Staff Statement; and Statement by the Executive Director for Niger
International Monetary Fund. African Dept.
Niger faces daunting development challenges, aggravated by terrorist incursions, low uranium export prices, and climate change. Nonetheless, GDP grew by a respectable 5 percent in the past two years. It should average 7 percent over the next five years thanks to reforms, substantial donor support, several large-scale projects, and a one-time boost from the projected commencement of crude oil exports in 2022.
Keywords:
ISCR; CR; government; Nigerien authorities; authority; criterion; debt
Cover IMF Staff Country Reports
Niger: First Review under the Extended Credit Facility Arrangement-Press Release and Staff Report
International Monetary Fund. African Dept.
This paper discusses Niger’s First Review Under the Extended Credit Facility Arrangement. Despite security challenges and unfavorable commodity prices, economic performance of Niger has been satisfactory against the backdrop of a good crop season, with real GDP growing by 5 percent in 2016 while inflation remained contained at 0.2 percent. Growth is expected to reach 5.2 percent in 2017, mainly on the back of strengthening hydrocarbon and services sectors, and robust credit growth. The current account deficit will likely decline to 13.4 percent of GDP, reflecting rising exports of oil products, a rebound in uranium exports, and the winding down of import-intensive infrastructure projects.
Keywords:
ISCR; CR; fiscal policy; government; deficit; spending allocation; disbursement; GDP; debt policy; expenditure restraint; ECF arrangement; prudent fiscal policy; Capital spending; Budget planning and preparation; Credit; Global
Cover IMF Staff Country Reports
Niger: First Review under the Extended Credit Facility Arrangement-Press Release and Staff Report
International Monetary Fund. African Dept.
With the second lowest Human Development Index and the highest population growth rate in the world, Niger is facing a daunting development agenda. Despite terrorist incursions from abroad and depressed prices for key uranium exports, the economy is expected to expand by 5.2 percent in both 2017 and 2018. Growth should rise to 5.5 percent thereafter as reform efforts trump continued headwinds and Niger benefits from substantial donor support. The government enjoys a comfortable political majority but capacity remains a bottleneck for reform implementation.
Keywords:
ISCR; CR; fiscal policy; government; deficit; spending allocation; disbursement; GDP
Cover IMF Staff Country Reports
Niger: Eighth Review Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria and for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the ED
International Monetary Fund. African Dept.
This paper discusses Niger’s Eighth Review Under the Extended Credit Facility (ECF) Arrangement and Request for Waivers of Nonobservance of Performance Criteria (PC) and for Modification of PCs. Niger’s medium-term prospects are closely linked to returns on major projects in oil and mineral extraction that are under way. Two of the end-2015 PC for the eighth ECF review were missed (on domestic financing and domestic arrears repayment), as were several indicative targets. The IMF staff supports the authorities’ request for waivers for the unmet PC on domestic financing and domestic arrears repayments at end-December 2015.
Keywords:
ISCR; CR; government; ECF arrangement; customs; procedure; economic development; resource revenue; resource sector downturn; customs revenue; macroeconomic objective; audit mining revenue; revenue collection; Budget planning and preparation; Capital spending; West Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Niger: Rapport des services du FMI pour les consultations de 2014 au titre de l’article IV et quatrième et cinquième revues combinées de l’accord au titre de la facilité élargie de crédit et demande de dérogation pour la non-observation de critères de réalisation et de modification de critères de réalisation
International Monetary Fund. African Dept.
Ce rapport pour les consultations de 2014 au titre de l'article IV indique que dans l’ensemble, les résultats macroéconomiques du Niger ont été globalement satisfaisants. Après le ralentissement économique enregistré en 2013 en raison de la situation sécuritaire dans la région et des conditions climatiques défavorables, la croissance a rebondi en 2014. L’inflation a été maîtrisée en partie grâce aux efforts consentis par le gouvernement pour améliorer la sécurité alimentaire et le fonctionnement des marchés. Cependant, le programme a affiché des résultats mitigés, l’effet conjugué de dépenses sécuritaires et alimentaires imprévues et d’un déficit de financement extérieur ayant mis à mal la gestion budgétaire. À court terme, pour assurer la viabilité des finances publiques, il est essentiel de maîtriser le déficit budgétaire, grâce à des mesures destinées à améliorer la politique et l’administration fiscales, à réformer l’administration douanière et à réduire les exonérations.
Keywords:
ISCR; CR; financing; debt; real GDP; deficit