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Political Science > Agriculture & Food Policy

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Cover IMF Staff Country Reports
Burkina Faso: 2024 Article IV Consultation and First Review Under the Extended Credit Facility and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
International Monetary Fund. African Dept.
This paper focuses on Burkina Faso’s 2024 Article IV Consultation and First Review under the Extended Credit Facility Arrangement and Financing Assurances Review. Burkina Faso’s performance under the program has been positive. All quantitative performance criteria, all indicative targets but one, and most structural benchmarks for the first review were met; some structural benchmarks were implemented with delay. Burkina Faso faces multiple development challenges, including heightened security conditions, climate change, and food insecurity. The authorities are progressing in their fiscal consolidation efforts, structural reforms and fiscal governance measures, and the creation of fiscal space for priority spending. Growth accelerated in 2023 to 3.6 percent of gross domestic product, supported by a rebound in construction and expansion of the tertiary sector. Inflation significantly decreased, and the fiscal and debt positions improved. Growth is projected at 5.5 percent in 2024 but remains below potential in the medium term, and a lasting recovery is contingent on bringing security under control.
Keywords:
consultation cycle; HIPC resource; investment expenditure budgeting; SDR equivalent; appreciation to IMF management; Debt sustainability; Food security; Global; Africa
Cover IMF Staff Country Reports
Belize: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
This Selected Issue paper documents the recent episode of food inflation and food insecurity in Belize. The paper also overviews what policies were announced in Belize and the Caribbean during the recent cost-of-living crisis; and discusses the policies Belize could implement to protect its most vulnerable households from the threat of food insecurity going forward. It discusses the appropriate policies to protect vulnerable households from food price inflation going forward based on economic theory and best practices and estimates how much it would cost the government of Belize to protect the vulnerable population against a rise in food prices like the one in 2022. The authorities should evaluate the impact of the recent policy that regulates mark-ups on essential goods by wholesale and retail operators when they have sufficient data. The limits on the mark-up for 32 essential goods were introduced to limit the increase in food prices and avoid monopolistic practices.
Keywords:
food inflation; staff ream; debt target; cost of living crisis; B. food inflation; food inflation in Belize; price signals work; Food prices; Food security; Inflation; Fiscal stance; Caribbean; Global
Cover IMF Staff Country Reports
Burkina Faso: demande d’un nouvel accord économique et financier au titre du mécanisme élargi de crédit et de la facilité élargie de crédit-communiqué de presse; rapport des services du FMI; déclaration de l’administrateur FMI pour le Burkina Faso
International Monetary Fund. African Dept.
Le Burkina Faso est confronté à d’importants besoins en matière de balance des paiements et de sécurité aggravés par une insécurité alimentaire aiguë et une instabilité politique. Les autorités ont obtenu en mars 2023 un financement d’urgence de la part du FMI au titre du guichet « chocs alimentaires » de la facilité de crédit rapide pour répondre à la crise provoquée par l’insécurité alimentaire, qui demeure très vive dans certaines régions. L’aide internationale au développement a diminué après les deux coups d’État militaires survenus en 2022. Le Burkina Faso est parvenu à un accord avec la Communauté économique des États d’Afrique de l’Ouest (CEDEAO) sur un retour à l’ordre constitutionnel et des élections doivent se dérouler d’ici juillet 2024.
Keywords:
crise de l’insécurité alimentaire; la mise en œuvre de l’intervention d’urgence alimentaire; la mise en œuvre par les autorités; les dépenses alimentaires d’urgence; déficit de financement; Viabilité de la dette; Planification et préparation du budget; Global
Cover IMF Staff Country Reports
Burkina Faso: Request for a Four-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
International Monetary Fund. African Dept.
This paper discusses Burkina Faso’s Request for a Four-Year Arrangement Under the Extended Credit Facility (ECF). Burkina Faso faces protracted balance of payments problems, reflecting large development needs and the impact of shocks such as the coronavirus disease 2019 pandemic, adverse weather conditions, deteriorating domestic security, the food insecurity crisis, and spillovers from Russia’s war in Ukraine. These shocks have disrupted economic activity, affected livelihoods, and exacerbated macroeconomic imbalances. The ECF will help create fiscal space for priority spending, strengthen resilience to shocks while reducing poverty, and bolster fiscal discipline, transparency and governance. It will also help close financing gaps reflecting tight financial conditions, large fiscal deficits, debt vulnerabilities, food insecurity, and fragile security conditions. For the country’s long-term development process, it remains essential to sustain structural reforms to foster economic growth and diversification as well as to reduce poverty. In this context, further efforts to improve the business environment, reinforce governance and anticorruption efforts, and address the security crisis are critical.
Keywords:
food insecurity crisis; implementation of the food emergency response; authorities' implementation; emergency food expenditure; financing gap; Debt sustainability; Budget planning and preparation; Global
Cover IMF Staff Country Reports
Mali: 2023 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Mali
International Monetary Fund. African Dept.
This 2023 Article IV Consultation highlights that Mali’s economy has been hit by multiple shocks since 2020 but remained resilient in 2022 amid high inflation. Real gross domestic product (GDP) growth increased from 3.1 percent in 2021 to 3.7 percent in 2022, despite elevated security and socio-political challenges, regional sanctions in the first half of 2022 and a high incidence of food insecurity. Growth is projected to rebound to over 5 percent in 2023 and 2024, assuming strong agricultural and gold output. However, the economic outlook is subject to significant downside risks. They include a worsening security situation, potential election delays, volatile international commodity prices, tighter global financial conditions, and climate risks. The government’s fiscal deficit reflects a rapid increase in security spending, public wages, and the interest bill, which are crowding out growth-friendly spending including those on the social safety net and capital investment. Mali’s current account deficit improved slightly in 2022, down to 6.9 percent of GDP from 7.5 percent in 2021, on account of higher gold exports and lower capital goods imports.
Keywords:
Malian authorities' effort; authorities' roadmap; B. financing condition; concerted effort; medium-term projection; Government debt management; Debt sustainability; Global; West Africa
Cover IMF Staff Country Reports
Mali: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper focuses on climate vulnerabilities and food insecurity in Mali. Mali is extremely vulnerable to climate change and the country is already facing acute climate-related challenges from higher temperatures and more frequent extreme weather events. The impact of climate change has also contributed to a rise in food insecurity, with almost a quarter of the population expected to be either facing food insecurity or at risk of doing so by mid-2023. That is already having a hugely damaging effect on Mali’s economy and action is needed immediately to avoid a further increase in food insecurity. Building future resilience to climate change will require effective adaptation strategies in the primary sector. With climate change already adding to food insecurity in Mali, there is an urgent need to address these related issues. The country is extremely vulnerable to climate change, and food insecurity is rising. Any further increase in food insecurity has the potential to exacerbate social tensions, with the risk of further conflict. It will also have a lasting adverse impact on economic growth and poverty. There is therefore a pressing need to act immediately.
Keywords:
wage bill; Mali debt Dynamics scenario; reform priority; Customs administration website; governance diagnostic; Climate change; Food security; Wages; Public sector wages; Sub-Saharan Africa; Africa; Global
Cover IMF Staff Country Reports
Burkina Faso: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
International Monetary Fund. African Dept.
The paper presents Burkina Faso’s Request for Disbursement under the Rapid Credit Facility (RCF). This emergency financing under the Food Shock Window will help Burkina Faso address urgent balance of payment needs related to the global food crisis and mitigate the impact of the food shock on the most vulnerable. The authorities’ crisis response appropriately focuses on providing immediate food assistance to affected households, preventing malnutrition and improving drinking water supply, and protecting livestock and animal husbandry. The plans to prepare progress reports and audits on the implementation of the cash transfer program and all food emergency spending are important. Identification and publication of the beneficial owners of entities awarded public procurement contracts related to measures to address the food crisis would be key. The post-coronavirus disease 2019 economic recovery was disrupted by deteriorating security conditions, political uncertainty, and rising foodstuff prices because of Russia’s war in Ukraine, worsening the ongoing food crisis and weighing on the budget. Economic recovery in 2023 will depend on financing conditions, the security situation, and on efforts to mobilize domestic revenues to ensure priority public expenditure and public debt sustainability.
Keywords:
staff appraisal; NPV terms; HIPC initiative legacy; arrears from Burkina Faso; IMF team; Food security; Debt sustainability; Credit; Global; West Africa
Cover IMF Staff Country Reports
Haiti: Request for the Disbursement Under the Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Haiti
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Haiti’s Request for Disbursement under the Rapid Credit Facility (RCF). While Haiti’s population was already suffering severe malnutrition and food insecurity before the war in Ukraine, especially its suffering has been compounded by the surge in food commodity prices. IMF emergency support under the food shock window of the RCF will help fill the balance of payment gap and support those most affected by food price rises through feeding programs and cash and in-kind transfers to vulnerable households, waives school fees and other measures. The combination of appropriate macroeconomic and structural policies under the Staff-Monitored Program (SMP) provides additional safeguards for the IMF’s outstanding obligations. While providing adequate liquidity support to the financial sector, the central bank should reduce monetary financing of the deficit and limit foreign exchange interventions to smoothing volatility. The SMP is also catalytic to donor support. A successful implementation of Haiti’s SMP would be key in the process of restoring macroeconomic stability and sustainability, strengthening the social safety net, and tackling governance weaknesses and corruption.
Keywords:
record price inflation; SMP objective; international community; Haitian authorities; transparency policy; governance Diagnostic; Commodity price shocks; Debt sustainability analysis; Credit; Global
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
Cover IMF Staff Country Reports
Niger: Staff Report for the 2014 Article IV Consultation and Fourth and Fifth Reviews Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of Performance Criteria and Modification of Performance Criteria
International Monetary Fund. African Dept.
This 2014 Article IV Consultation highlights that Niger’s overall macroeconomic performance has been broadly satisfactory. After the economic slowdown in 2013 owing to the regional security situation and adverse climatic conditions, economic growth has rebounded in 2014. Inflation has been contained, in part owing to the government’s efforts to improve food security and the functioning of food markets. However, program performance has been mixed, as a combination of unexpected security and food expenditures and a shortfall in external financing have strained fiscal management. In the near term, containing the fiscal deficit through measures to improve tax policy and administration, reform customs administration, and reduce exemptions is essential to ensure sustainability.
Keywords:
ISCR; CR; financing; debt; real GDP; deficit; public finance management; ECF review; envisaged revenue administration measure; food expenditure; expenditure pressure; Government debt management; Food security; West Africa; Sub-Saharan Africa; IMF arrangement