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International Monetary Fund. Institute for Capacity Development
This technical assistance (TA) report presents the outcomes of the scoping mission of a new TA project aimed at building capacity in macroeconomic analysis and forecasting in the Ministry of Planning and Investment (MPI). The MPI is establishing a Core Working Group (CWG) under MPI’s coordination that will carry out macroeconomic analysis using Macroeconomic Projection Tool (MPT) and integrate the results in the policy making process. Based on the mission’s finding and assessment, the mission team and the authorities agreed on a three-year TA action plan that includes training components during the early stage of the project. During Phase 1 (2023-24), the activities would focus on developing and operating the Macro-Framework Foundation Tool (MFT) and the Public Debt Dynamics Tool (DDT) to produce macroeconomic analysis and forecasting. Depending on progress, the MPT could be enhanced during Phase 2 (2025-26) and the tentative plan is to develop Comprehensive Adaptive Expectation Model (CAEM). The CWG will take the lead in implementing the activities and targets identified in the TA action plan and will be supported by the IMF TA team.
International Monetary Fund. African Dept.
This paper presents Côte d'Ivoire’s request for an Extended Arrangement Under the Extended Fund Facility (EFF) and a 40-Month Arrangement Under the Extended Credit Facility (ECF). IMF Board approves 40-month arrangements under the EFF and ECF for Côte d’Ivoire to help support the country’s transformation toward upper-middle income status through the implementation of the authorities’ national development plan while preserving macroeconomic stability. The key reform agenda under the arrangements is domestic revenue mobilization, which is central in preserving fiscal and debt sustainability and along with increased spending efficiency should generate fiscal space to help finance investment needs and critical spending in health and education to allow for deeper economic transformation. Structural reforms should further deliver improvements in business climate, private sector investments and financial inclusion to foster the necessary conditions for inclusive growth, through strengthening governance and human capital investments, especially amongst youth and women.
International Monetary Fund. African Dept.
Consecutive global shocks have led to a widening of macroeconomic imbalances, put a serious strain on public finances as well as regional reserves, and further exposed longstanding constraints to economic transformation. Notwithstanding record growth in the past decade and significant poverty reduction, large social priority and investment spending needs remain, while comparatively weak domestic revenue mobilization poses significant financing constraints. Against this backdrop, the authorities have requested Fund support of 400 percent of quota (SDR 2,601.6 million) for an economic program aimed at meeting pressing financing needs, preserving macroeconomic stability, and anchoring the National Development Plan (NDP) in key structural reforms to support Côte d’Ivoire’s transformation towards upper-middle income status.
International Monetary Fund. Institute for Capacity Development
This Management Implementation Plan (MIP) proposes actions in response to the Board-endorsed recommendations provided by the Independent Evaluation Office (IEO)’s report on IMF and Capacity Development (CD). Staff has already begun addressing some of the IEO recommendations and several of the actions proposed in this MIP reflect initiatives in train. Resource implications are therefore expected to be manageable in the near term as these actions have mostly been incorporated into departmental work plans and budgets for fiscal year (FY) 2024. Medium-term resource implications will be discussed in the context of the FY 2025-FY 2026 medium-term budget proposals.
International Monetary Fund. Policy Development and Review Dept.
The membership is facing significant challenges, including high inflation, rising food and energy insecurity, elevated debt levels, tightening financial conditions, volatile capital flows and exchange rates, and intensifying geopolitical fragmentation. To this end, the Executive Board Work Program focuses on policy responses and bilateral and multilateral advice to stabilize the global economy and build resilience, critical financial assistance to those countries most affected by these shocks, and capacity development support to help implement policy advice. More than ever, the Fund has a key role to play in promoting international cooperation and collaborative solutions to shared challenges, including those related to climate, digitalization, and inclusion.