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International Monetary Fund. African Dept.
This Selected Issues paper presents stylized facts on Benin’s ongoing economic transformation, and analyzes the country’s new eco-system. A recent IMF paper explores conditions under which the country’s industrial policy could meet its intended goals while avoiding unintended economic distortions down the road. While economic diversification is found to be associated with higher economic growth, evidence on the causal impact of industrial policies is hard to establish. While empirical evidence suggests that Benin’s reliance on traditional sectors, notably the Port of Cotonou, is moderating, economic diversification remains limited. The government embarked on industrial policy with the transformation of local commodities as main engine, including via the launching of a Special Economic Zone (SEZ) in 2020. It is recommending that the authorities should pursue efforts to ensure transparency in the selection of SEZ-related incentives. Intra-regional trade integration holds significant potential for Benin and could support economic diversification. Ongoing post-electoral policy shifts in Nigeria and formalization underway of economic ties between both nations, if permanent, would curb rent-seeking in Benin.
International Monetary Fund
Benin’s program furthers the objectives elaborated in the previous report. It is the result of a broad participative process that engaged all levels of government, the private sector, civil society, and donor partners. Executive Directors commend the program as it provides an adequate framework for poverty reduction. The strategy addresses the critical constraints and challenges facing Benin and builds on its comparative advantages. However, it lacks the specificity required to ensure results. Improving alignment of necessary actions and activities in support of the objectives with realistically available resources will help.
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
International Monetary Fund
This abstract discusses Benin’s poverty reduction strategy (PRS1). The PRS1 serves as both a strategic frame of reference and a framework for dialogue with technical and financial partners (TFPs). The six major phases involved in the preparation of the growth and poverty reduction strategy (GPRS) and design of the macroeconomic and budgetary framework have been explained in this paper. The impact of macroeconomic and budgetary framework on the attainment of the MDGs and on the poverty reduction is also reviewed.
International Monetary Fund
This paper reviews the Annual Progress Report (APR) on Poverty Reduction Strategy Paper (PRSP) on Benin. The APR presents an overview of the implementation of the strategy addressing in turn the new vision of development in Benin, the major projects initiated for the creation of national wealth and the situation of poverty, and the achievement of the Millennium Development Goals in Benin. The APR also focuses on the level of implementation of the strategy, and deals with the monitoring of the macroeconomic and budgeting framework.
International Monetary Fund
This Joint Staff Advisory Note reviews the latest Annual Progress Report (APR) on the implementation of the poverty reduction strategy (PRS) for Benin. The APR assesses progress in implementing the strategy during 2006 and the first half of 2007. The APR indicates that significant progress has been made in strengthening the macroeconomic framework. The APR highlights some improvement in social indicators but indicates that, at the current pace, Benin would not be able to reach all the Millennium Development Goal targets by 2015.
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
International Monetary Fund
The Government of the Republic of Niger has implemented the Poverty Reduction Strategy (PRS), which describes the country's macroeconomic, structural, and social policies in support of growth and poverty reduction. This strategy is based on the conviction that poverty can be reduced through strong and sustained economic growth that creates wealth and jobs. The study is the outcome of a concerted analysis. The first part outlines the diagnosis and key factors of poverty and the second part presents the major challenges, vision, overall goals, and strategic pillars.
International Monetary Fund
This Poverty Reduction Strategy Paper (PRSP) was developed based on a long participatory process based on an institutional mechanism involving all socioeconomic development actors in the country. The annual review of the PRSP seeks to assess the results achieved in the implementation of the poverty reduction strategy by analyzing the evolution of the performance indicators retained and the level of execution of the matrix of measures retained in the PRSP. This study is based on the reports of IMF staff's PRSP and information collected from government projects, program budget, and framework.