Abstract
NIGER
Title page
NIGER
STAFF REPORT FOR THE 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—INFORMATIONAL ANNEX
December 6, 2022
Prepared By
African Department
(in consultation with other departments)
Contents
RELATIONS WITH THE FUND
RELATIONS WITH OTHER INTERNATIONAL FINANCIAL INSTITUTIONS
STATISTICAL ISSUES
Relations With the Fund
As of September 30, 2022
A. Financial Relations
Membership Status: Joined: April 24, 1963;
Accepted Obligations of Article VIII, Sections 2, 3, and 4: June 1, 1996
| General Resources Account: | SDR Million | %Quota |
| Quota | 131.60 | 100.00 |
| IMF’s Holdings of Currency (Holdings Rate) | 106.50 | 80.92 |
| Reserve Tranche Position | 25.23 | 19.18 |
| SDR Department: | SDR Million | %Allocation |
| Net cumulative allocation | 189.07 | 100.00 |
| Holdings | 203.78 | 107.78 |
| Outstanding Purchases and Loans: | SDR Million | %Quota |
| RCF Loans | 83.66 | 63.57 |
| ECF Arrangements | 250.09 | 190.03 |
| General Resources Account: | SDR Million | %Quota |
| Quota | 131.60 | 100.00 |
| IMF’s Holdings of Currency (Holdings Rate) | 106.50 | 80.92 |
| Reserve Tranche Position | 25.23 | 19.18 |
| SDR Department: | SDR Million | %Allocation |
| Net cumulative allocation | 189.07 | 100.00 |
| Holdings | 203.78 | 107.78 |
| Outstanding Purchases and Loans: | SDR Million | %Quota |
| RCF Loans | 83.66 | 63.57 |
| ECF Arrangements | 250.09 | 190.03 |
Latest Financial Commitments:
Arrangements:
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| ECF | Dec 08, 2021 | Dec 07, 2024 | 197.40 | 78.96 |
| ECF | Jan 23, 2017 | Oct 28, 2020 | 118.44 | 118.44 |
| ECF | Mar 16, 2012 | Dec 31, 2016 | 120.09 | 107.75 |
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| ECF | Dec 08, 2021 | Dec 07, 2024 | 197.40 | 78.96 |
| ECF | Jan 23, 2017 | Oct 28, 2020 | 118.44 | 118.44 |
| ECF | Mar 16, 2012 | Dec 31, 2016 | 120.09 | 107.75 |
Undrawn outright disbursements (RFI and RCF) expire automatically 60 days following the date of commitment, i.e., Board approval date.
| Outright Loans 1/: | ||||
| Type | Date of Commitment | Date Drawn/Expired | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| RCF | Apr 14, 2020 | Apr 16, 2020 | 83.66 | 83.66 |
Undrawn outright disbursements (RFI and RCF) expire automatically 60 days following the date of commitment, i.e., Board approval date.
| Outright Loans 1/: | ||||
| Type | Date of Commitment | Date Drawn/Expired | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| RCF | Apr 14, 2020 | Apr 16, 2020 | 83.66 | 83.66 |
Undrawn outright disbursements (RFI and RCF) expire automatically 60 days following the date of commitment, i.e., Board approval date.
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Overdue Obligations and Projected Payments to Fund 1/ | |||||
| (SDR Million; based on existing use of resources and present holdings of SDRs): | |||||
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 8.41 | 25.22 | 26.06 | 38.09 | 42.89 |
| Charges/Interest | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total | 8.41 | 25.22 | 26.06 | 38.10 | 42.89 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Overdue Obligations and Projected Payments to Fund 1/ | |||||
| (SDR Million; based on existing use of resources and present holdings of SDRs): | |||||
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 8.41 | 25.22 | 26.06 | 38.09 | 42.89 |
| Charges/Interest | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total | 8.41 | 25.22 | 26.06 | 38.10 | 42.89 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Implementation of HIPC Initiative: | |
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Dec 2000 |
| Assistance committed | |
| by all creditors (US$ Million) 1/ | 663.10 |
| Of which: IMF assistance (US$ million) | 42.01 |
| (SDR equivalent in millions) | 31.22 |
| Completion point date | Apr 2004 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 31.22 |
| Interim assistance | 6.68 |
| Completion point balance | 24.55 |
| Additional disbursement of interest income 2/ | 2.74 |
| Total disbursements | 33.96 |
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Implementation of HIPC Initiative: | |
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Dec 2000 |
| Assistance committed | |
| by all creditors (US$ Million) 1/ | 663.10 |
| Of which: IMF assistance (US$ million) | 42.01 |
| (SDR equivalent in millions) | 31.22 |
| Completion point date | Apr 2004 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 31.22 |
| Interim assistance | 6.68 |
| Completion point balance | 24.55 |
| Additional disbursement of interest income 2/ | 2.74 |
| Total disbursements | 33.96 |
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Implementation of Multilateral Debt Relief Initiative (MDRI): | |||
| I. MDRI-eligible debt (SDR Million)1/ | 77.55 | ||
| Financed by: MDRI Trust | 59.82 | ||
| Remaining HIPC resources | 17.73 | ||
| II. Debt Relief by Facility (SDR Million) |
| Implementation of Multilateral Debt Relief Initiative (MDRI): | |||
| I. MDRI-eligible debt (SDR Million)1/ | 77.55 | ||
| Financed by: MDRI Trust | 59.82 | ||
| Remaining HIPC resources | 17.73 | ||
| II. Debt Relief by Facility (SDR Million) |
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| Eligible Debt | |||
| Delivery Date | GRA | PRGT | Total |
| January 2006 | N/A | 77.55 | 77.55 |
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| Eligible Debt | |||
| Delivery Date | GRA | PRGT | Total |
| January 2006 | N/A | 77.55 | 77.55 |
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| Implementation of Catastrophe Containment and Relief (CCR): | |||
| Date of Catastrophe | Board Decision Date | Amount Committed (SDR million) | Amount Disbursed (SDR million) |
| N/A | Apr 13, 2020 | 5.64 | 5.64 |
| N/A | Oct 02, 2020 | 5.64 | 5.64 |
| N/A | Apr 01, 2021 | 9.54 | 9.54 |
| N/A | Oct 06, 2021 | 5.03 | 5.03 |
| N/A | Dec 15, 2021 | 5.75 | 5.75 |
| Implementation of Catastrophe Containment and Relief (CCR): | |||
| Date of Catastrophe | Board Decision Date | Amount Committed (SDR million) | Amount Disbursed (SDR million) |
| N/A | Apr 13, 2020 | 5.64 | 5.64 |
| N/A | Oct 02, 2020 | 5.64 | 5.64 |
| N/A | Apr 01, 2021 | 9.54 | 9.54 |
| N/A | Oct 06, 2021 | 5.03 | 5.03 |
| N/A | Dec 15, 2021 | 5.75 | 5.75 |
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
B. Non-Financial Relations
Exchange Rate Arrangement:
The exchange rate arrangement of the West African Economic and Monetary Union (WAEMU) is a conventional peg. Niger participates in a currency union with seven other members of the WAEMU and has no separate legal tender. The union’s common currency, the CFA franc, is pegged to the Euro at a rate of CFAF 655.957 = EUR 1. A Monetary Cooperation Agreement between the WAEMU member states and France was concluded on December 21, 2019, to replace the agreement dated December 4, 1973. The Monetary Cooperation Agreement is based on three pillars: (1) a common issuing institution, (2) fixed parity with the euro, and (3) a guarantee of unlimited convertibility. Niger accepted the obligations of Article VIII, Sections 2, 3, and 4 with effect from June 1, 1996. Niger maintains an exchange system free of restrictions on the making of payments and transfers for current international transactions and multiple currency practices.
Safeguard Assessment Findings:
The Central Bank of West African States (BCEAO) is a common central bank of the countries of the West African Economic and Monetary Union (WAMU). In accordance with safeguards policy requirements for regional central banks, a quadrennial safeguards assessment of the Central Bank of West African States (BCEAO) was completed in 2018. The assessment found that the central bank has maintained a strong control environment since the last assessment in 2013 and its governance arrangements are broadly appropriate. In addition, audit arrangements have been strengthened, International Financial Reporting Standards (IFRS) were adopted as the accounting framework beginning with the 2015 financial statements, and a 2016 external quality review of the internal audit function found broad conformity with international standards. The BCEAO’s risk management framework established in 2014 is also progressing well with implementation of its work across the bank. The BCEAO has implemented all recommendations provided in the 2018 assessment. An update assessment of the BCEAO is planned for 2023.
Article IV Consultations.
The last completed Article IV consultation discussions were held in Niamey in May 2019. The staff report (Country Report No. 19/239) was discussed by the Executive Board, and the 2019 Article IV consultation concluded, on June 26, 2019.
Technical Assistance
Technical Assistance from 2019 to October 2022
Technical Assistance from 2019 to October 2022
| Department | Purpose | Start-date | End-date |
|---|---|---|---|
| FAD | Revenue Administration | 14-Nov-22 | 18-Nov-22 |
| FAD | Revenue Administration | 14-Nov-22 | 25-Nov-22 |
| STA | Government Finance | 14-Nov-22 | 25-Nov-22 |
| FAD | Revenue Administration | 14-Nov-22 | 02-Dec-22 |
| FAD | Public Financial Management | 01-Nov-22 | 20-Nov-22 |
| FAD | Public Financial Management | 03-Oct-22 | 25-Oct-22 |
| FAD | LTX visit on Improving macroeconomic risk analysis | 12-Sep-22 | 23-Sep-22 |
| FAD | Revenue Administration | 25-Jul-22 | 05-Aug-22 |
| FAD | Preparation of an oil revenue management strategy | 14-Jun-22 | 27-Jun-22 |
| FAD | STX visit - fiscal risk management | 13-Jun-22 | 24-Jun-22 |
| FAD | Revenue Administration | 02-May-22 | 31-May-22 |
| STA | External Sector | 18-Apr-22 | 22-Apr-22 |
| FAD | Tax Policy | 15-Apr-22 | 29-Apr-22 |
| STA | Real Sector - National Accounts | 11-Apr-22 | 15-Apr-22 |
| FAD | Revenue Administration | 01-Apr-22 | 29-Apr-22 |
| FAD | Revenue Administration | 28-Mar-22 | 28-Apr-22 |
| FAD | Revenue Administration | 14-Mar-22 | 25-Mar-22 |
| STA | Real Sector - National Accounts | 14-Mar-22 | 18-Mar-22 |
| FAD | Revenue Administration | 07-Mar-22 | 18-Mar-22 |
| FAD | Revenue Administration | 31-Jan-22 | 12-Feb-22 |
| STA | Government Finance | 22-Nov-21 | 17-Dec-21 |
| FAD | Tax Administration Diagnostic Assessment Tool assessment | 15-Nov-21 | |
| FAD | Tax Administration Diagnostic Assessment Tool training | 08-Nov-21 | |
| FAD | Revenue Administration | 25-Oct-21 | 05-Nov-21 |
| FAD | Public Financial Management | 31-May-21 | 11-Jun-22 |
| STA | Real Sector - National Accounts | 17-May-21 | 28-May-21 |
| MCM | Assets & Liability Management | 09-Mar-21 | 21-Mar-21 |
| MCM | Assets & Liability Management | 09-Mar-21 | 19-Mar-21 |
| FAD | Revenue Administration | 01-Feb-21 | 12-Feb-21 |
| FAD | Revenue mobilization | 01-Feb-21 | 12-Feb-21 |
| STA | National Acct. & Prices | 25-Jan-21 | 05-Feb-21 |
| FAD | Revenue Administration | 05-Jan-21 | 05-Jan-21 |
| FAD | Macro-fiscal management | 09-Dec-20 | 23-Dec-20 |
| STA | BOP & Trade | 30-Nov-20 | 04-Dec-20 |
| FAD | Revenue mobilization | 16-Nov-20 | 27-Nov-20 |
| STA | Govt. Finance Stat. | 29-Jun-20 | 10-Jul-20 |
| FAD | Budget preparation & PEM | 01-Jun-20 | 14-Jun-20 |
| FAD | Budget preparation & PEM | 01-May-20 | 31-May-20 |
| FAD | Budget preparation & PEM | 20-Apr-20 | 01-May-20 |
| MCM | Assets & Liability Management | 17-Apr-20 | 28-Apr-20 |
| FAD | Budget preparation & PEM | 26-Mar-20 | 26-Mar-20 |
| FAD | Budget preparation & PEM | 24-Feb-20 | 06-Mar-20 |
| FAD | Budget preparation & PEM | 12-Feb-20 | 25-Feb-20 |
| FAD | Budget preparation & PEM | 12-Feb-20 | 21-Feb-20 |
| FAD | Budget preparation & PEM | 03-Feb-20 | 14-Feb-20 |
| STA | BOP & Trade | 03-Feb-20 | 07-Feb-20 |
| MCM | Assets & Liability Management | 11-Nov-19 | 20-Nov-19 |
| FAD | Revenue mobilization | 04-Nov-19 | 15-Nov-19 |
| STA | National Acct. & Prices | 21-Oct-19 | 25-Oct-19 |
| FAD | Revenue mobilization | 30-Sep-19 | 11-Oct-19 |
| FAD | Budget preparation & PEM | 23-Sep-19 | 04-Oct-19 |
| FAD | Budget preparation & PEM | 23-Sep-19 | 27-Sep-19 |
| STA | National Acct. & Prices | 16-Sep-19 | 20-Sep-19 |
| FAD | Budget preparation & PEM | 10-Sep-19 | 30-Apr-20 |
| STA | Govt. Finance Stat. | 05-Aug-19 | 16-Aug-19 |
| FAD | Budget preparation & PEM | 30-Jul-19 | 09-Aug-19 |
| FAD | Revenue mobilization | 22-Jul-19 | 02-Aug-19 |
| FAD | Revenue mobilization | 17-Jun-19 | 28-Jun-19 |
| FAD | Budget preparation & PEM | 17-Jun-19 | 21-Jun-19 |
| STA | National Acct. & Prices | 25-Mar-19 | 05-Apr-19 |
| FAD | Budget preparation & PEM | 27-Feb-19 | 12-Mar-19 |
| STA | BOP & Trade | 04-Feb-19 | 08-Feb-19 |
| FAD | Revenue mobilization | 21-Jan-19 | 01-Feb-19 |
| FAD | Budget preparation & PEM | 19-Jan-19 | 22-Jan-19 |
| FAD | Revenue mobilization | 07-Jan-19 | 25-Jan-19 |
| FAD | Budget preparation & PEM | 07-Jan-19 | 18-Jan-19 |
Technical Assistance from 2019 to October 2022
| Department | Purpose | Start-date | End-date |
|---|---|---|---|
| FAD | Revenue Administration | 14-Nov-22 | 18-Nov-22 |
| FAD | Revenue Administration | 14-Nov-22 | 25-Nov-22 |
| STA | Government Finance | 14-Nov-22 | 25-Nov-22 |
| FAD | Revenue Administration | 14-Nov-22 | 02-Dec-22 |
| FAD | Public Financial Management | 01-Nov-22 | 20-Nov-22 |
| FAD | Public Financial Management | 03-Oct-22 | 25-Oct-22 |
| FAD | LTX visit on Improving macroeconomic risk analysis | 12-Sep-22 | 23-Sep-22 |
| FAD | Revenue Administration | 25-Jul-22 | 05-Aug-22 |
| FAD | Preparation of an oil revenue management strategy | 14-Jun-22 | 27-Jun-22 |
| FAD | STX visit - fiscal risk management | 13-Jun-22 | 24-Jun-22 |
| FAD | Revenue Administration | 02-May-22 | 31-May-22 |
| STA | External Sector | 18-Apr-22 | 22-Apr-22 |
| FAD | Tax Policy | 15-Apr-22 | 29-Apr-22 |
| STA | Real Sector - National Accounts | 11-Apr-22 | 15-Apr-22 |
| FAD | Revenue Administration | 01-Apr-22 | 29-Apr-22 |
| FAD | Revenue Administration | 28-Mar-22 | 28-Apr-22 |
| FAD | Revenue Administration | 14-Mar-22 | 25-Mar-22 |
| STA | Real Sector - National Accounts | 14-Mar-22 | 18-Mar-22 |
| FAD | Revenue Administration | 07-Mar-22 | 18-Mar-22 |
| FAD | Revenue Administration | 31-Jan-22 | 12-Feb-22 |
| STA | Government Finance | 22-Nov-21 | 17-Dec-21 |
| FAD | Tax Administration Diagnostic Assessment Tool assessment | 15-Nov-21 | |
| FAD | Tax Administration Diagnostic Assessment Tool training | 08-Nov-21 | |
| FAD | Revenue Administration | 25-Oct-21 | 05-Nov-21 |
| FAD | Public Financial Management | 31-May-21 | 11-Jun-22 |
| STA | Real Sector - National Accounts | 17-May-21 | 28-May-21 |
| MCM | Assets & Liability Management | 09-Mar-21 | 21-Mar-21 |
| MCM | Assets & Liability Management | 09-Mar-21 | 19-Mar-21 |
| FAD | Revenue Administration | 01-Feb-21 | 12-Feb-21 |
| FAD | Revenue mobilization | 01-Feb-21 | 12-Feb-21 |
| STA | National Acct. & Prices | 25-Jan-21 | 05-Feb-21 |
| FAD | Revenue Administration | 05-Jan-21 | 05-Jan-21 |
| FAD | Macro-fiscal management | 09-Dec-20 | 23-Dec-20 |
| STA | BOP & Trade | 30-Nov-20 | 04-Dec-20 |
| FAD | Revenue mobilization | 16-Nov-20 | 27-Nov-20 |
| STA | Govt. Finance Stat. | 29-Jun-20 | 10-Jul-20 |
| FAD | Budget preparation & PEM | 01-Jun-20 | 14-Jun-20 |
| FAD | Budget preparation & PEM | 01-May-20 | 31-May-20 |
| FAD | Budget preparation & PEM | 20-Apr-20 | 01-May-20 |
| MCM | Assets & Liability Management | 17-Apr-20 | 28-Apr-20 |
| FAD | Budget preparation & PEM | 26-Mar-20 | 26-Mar-20 |
| FAD | Budget preparation & PEM | 24-Feb-20 | 06-Mar-20 |
| FAD | Budget preparation & PEM | 12-Feb-20 | 25-Feb-20 |
| FAD | Budget preparation & PEM | 12-Feb-20 | 21-Feb-20 |
| FAD | Budget preparation & PEM | 03-Feb-20 | 14-Feb-20 |
| STA | BOP & Trade | 03-Feb-20 | 07-Feb-20 |
| MCM | Assets & Liability Management | 11-Nov-19 | 20-Nov-19 |
| FAD | Revenue mobilization | 04-Nov-19 | 15-Nov-19 |
| STA | National Acct. & Prices | 21-Oct-19 | 25-Oct-19 |
| FAD | Revenue mobilization | 30-Sep-19 | 11-Oct-19 |
| FAD | Budget preparation & PEM | 23-Sep-19 | 04-Oct-19 |
| FAD | Budget preparation & PEM | 23-Sep-19 | 27-Sep-19 |
| STA | National Acct. & Prices | 16-Sep-19 | 20-Sep-19 |
| FAD | Budget preparation & PEM | 10-Sep-19 | 30-Apr-20 |
| STA | Govt. Finance Stat. | 05-Aug-19 | 16-Aug-19 |
| FAD | Budget preparation & PEM | 30-Jul-19 | 09-Aug-19 |
| FAD | Revenue mobilization | 22-Jul-19 | 02-Aug-19 |
| FAD | Revenue mobilization | 17-Jun-19 | 28-Jun-19 |
| FAD | Budget preparation & PEM | 17-Jun-19 | 21-Jun-19 |
| STA | National Acct. & Prices | 25-Mar-19 | 05-Apr-19 |
| FAD | Budget preparation & PEM | 27-Feb-19 | 12-Mar-19 |
| STA | BOP & Trade | 04-Feb-19 | 08-Feb-19 |
| FAD | Revenue mobilization | 21-Jan-19 | 01-Feb-19 |
| FAD | Budget preparation & PEM | 19-Jan-19 | 22-Jan-19 |
| FAD | Revenue mobilization | 07-Jan-19 | 25-Jan-19 |
| FAD | Budget preparation & PEM | 07-Jan-19 | 18-Jan-19 |
Resident Representative:
Mr. Rasmane Ouédraogo, since July 2021.
Relations with Other International Financial Institutions
Niger and the World Bank
https://www.worldbank.org/en/country/niger
World Bank projects
https://projects.worldbank.org/en/projects-operations/projects-list?os=0&qterm=Niger
Niger and the African Development Bank
Statistical Issues
| A. Assessment of Data Adequacy for Surveillance |
| General: Data provision has some shortcomings but is broadly adequate for surveillance. Real sector statistics: With the assistance of AFRITAC West, the National Institute of Statistics (INS) has rebased its national accounts and is planning to release quarterly GDP estimates for the first time in December 2023. The national accounts are currently compiled on an annual basis in accordance with the System of National Accounts 2008 and with 2015 as base year. Prices: The INS compiles and disseminates a national consumer price index (CPI) based on the harmonized methodology of WAEMU and AFRISTAT. Weights are based on expenditure data collected during the 2011 survey on living conditions and agriculture (ECVMA) and price updated in 2014. Government finance statistics: Monthly government finance statistics are compiled by the Ministry of Finance (MOF) with a one-to four-month lag, based on information provided by the budget, customs, tax, and treasury directorates. The MOF reconciles the monthly spending commitments made by the budget directorate with the payments made by the treasury, but the results are not disseminated to the general public. Data are limited to the operation of the budgetary central government that covers the general budget, special funds, and operations of the treasury special accounts, but not the social security administration. Niger currently produces the 1998 TOFE (the harmonized table of government financial operations) based on the Government Finance Statistics Manual 1986 (GFSM 1986) with some inconsistencies between above and below the line data. However, the authorities are working toward implementing the Directive n¶10/2009/CM/UEMOA on the TOFE, which will imply migrating to the GFSM 2001. Niger does not report GFS data to STA. Monetary and financial statistics: Monthly Monetary and Financial Statistics (MFS) are compiled and disseminated by the Central Bank of West African States (BCEAO). In August 2016, the BCEAO completed the migration of Niger’s MFS to the standardized report forms (SRFs) for the central bank and other depository corporations. Since then, the BCEAO has continuously transmitted Niger’s SRF-based MFS to the IMF’s Statistics Department for publication in International Financial Statistics. Niger reports several series of the financial access survey (FAS), including mobile money, mobile and internet banking, gender-disaggregated data, and the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the U.N. Sustainable Development Goals. Financial Sector Surveillance: With technical assistance from the IMF’s Statistics Department, the BCEAO has compiled a set of FSIs for deposit takers with quarterly frequency. However, while the BCEAO has used FSIs for its internal purposes, it has not yet granted approval to publish the data on the IMF’s FSI website. External Sector Statistics: Since 2011, the balance of payments and international investment positions (IIP) statistics are compiled in conformity with the Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). The national agency of the BCEAO is responsible for compiling and disseminating these statistics, and the BCEAO headquarters for delineating the methodology and calculating the international reserves managed on behalf of the participating countries. Niger has caught up with the backlog of unpublished balance of payments and IIP statistics, which are now available both on the BCEAO website and in IFS and the Balance of Payments Statistics Yearbook (BOPSY). Niger has participated in the Coordinated Direct Investment Survey (CDIS) since 2012. |
| B. Data Standards and Quality |
| Niger has participated in the GDDS/e-GDDS since 2002. A data ROSC was published in 2006. |
| A. Assessment of Data Adequacy for Surveillance |
| General: Data provision has some shortcomings but is broadly adequate for surveillance. Real sector statistics: With the assistance of AFRITAC West, the National Institute of Statistics (INS) has rebased its national accounts and is planning to release quarterly GDP estimates for the first time in December 2023. The national accounts are currently compiled on an annual basis in accordance with the System of National Accounts 2008 and with 2015 as base year. Prices: The INS compiles and disseminates a national consumer price index (CPI) based on the harmonized methodology of WAEMU and AFRISTAT. Weights are based on expenditure data collected during the 2011 survey on living conditions and agriculture (ECVMA) and price updated in 2014. Government finance statistics: Monthly government finance statistics are compiled by the Ministry of Finance (MOF) with a one-to four-month lag, based on information provided by the budget, customs, tax, and treasury directorates. The MOF reconciles the monthly spending commitments made by the budget directorate with the payments made by the treasury, but the results are not disseminated to the general public. Data are limited to the operation of the budgetary central government that covers the general budget, special funds, and operations of the treasury special accounts, but not the social security administration. Niger currently produces the 1998 TOFE (the harmonized table of government financial operations) based on the Government Finance Statistics Manual 1986 (GFSM 1986) with some inconsistencies between above and below the line data. However, the authorities are working toward implementing the Directive n¶10/2009/CM/UEMOA on the TOFE, which will imply migrating to the GFSM 2001. Niger does not report GFS data to STA. Monetary and financial statistics: Monthly Monetary and Financial Statistics (MFS) are compiled and disseminated by the Central Bank of West African States (BCEAO). In August 2016, the BCEAO completed the migration of Niger’s MFS to the standardized report forms (SRFs) for the central bank and other depository corporations. Since then, the BCEAO has continuously transmitted Niger’s SRF-based MFS to the IMF’s Statistics Department for publication in International Financial Statistics. Niger reports several series of the financial access survey (FAS), including mobile money, mobile and internet banking, gender-disaggregated data, and the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the U.N. Sustainable Development Goals. Financial Sector Surveillance: With technical assistance from the IMF’s Statistics Department, the BCEAO has compiled a set of FSIs for deposit takers with quarterly frequency. However, while the BCEAO has used FSIs for its internal purposes, it has not yet granted approval to publish the data on the IMF’s FSI website. External Sector Statistics: Since 2011, the balance of payments and international investment positions (IIP) statistics are compiled in conformity with the Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). The national agency of the BCEAO is responsible for compiling and disseminating these statistics, and the BCEAO headquarters for delineating the methodology and calculating the international reserves managed on behalf of the participating countries. Niger has caught up with the backlog of unpublished balance of payments and IIP statistics, which are now available both on the BCEAO website and in IFS and the Balance of Payments Statistics Yearbook (BOPSY). Niger has participated in the Coordinated Direct Investment Survey (CDIS) since 2012. |
| B. Data Standards and Quality |
| Niger has participated in the GDDS/e-GDDS since 2002. A data ROSC was published in 2006. |
Niger: Table of Common Indicators Required for Surveillance
(as of September 30, 2022)
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability position vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Semiannually (S); Irregular (I); Not Available (NA).
Niger: Table of Common Indicators Required for Surveillance
(as of September 30, 2022)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of publication7 | |
|---|---|---|---|---|---|
| Exchange Rates | November 22, 2022 | November 22, 2022 | D | D | M |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | October 2022 | November 2022 | M | M | M |
| Reserve/Base Money | October 2022 | November 2022 | M | M | M |
| Broad Money | August 2022 | November 2022 | M | M | M |
| Central Bank Balance Sheet | October 2022 | November 2022 | M | M | M |
| Consolidated Balance Sheet of the Banking System | August 2022 | November 2022 | M | M | M |
| Interest Rates2 | M | M | M | ||
| Consumer Price Index | October 2022 | November 2022 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | August 2022 (to AFR Niger team) | October 2022 | M | M | NA |
| Stocks of Central Government and Central Government Guaranteed Debt5 | December 2021 (to AFR Niger team) | May 2022 | S | S | NA |
| External Current Account Balance | 2020 | December 15, 2021 | S | S | A |
| Exports and Imports of Goods and Services | 2020 | December 15, 2021 | A | Q | A |
| GDP/GNP | 2020 | January 2022 | A | A | A |
| Gross External Debt | A | I | A | ||
| International Investment Position6 | 2022 | December 15, 2021 | A | A | A |
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability position vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Semiannually (S); Irregular (I); Not Available (NA).
Niger: Table of Common Indicators Required for Surveillance
(as of September 30, 2022)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of publication7 | |
|---|---|---|---|---|---|
| Exchange Rates | November 22, 2022 | November 22, 2022 | D | D | M |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | October 2022 | November 2022 | M | M | M |
| Reserve/Base Money | October 2022 | November 2022 | M | M | M |
| Broad Money | August 2022 | November 2022 | M | M | M |
| Central Bank Balance Sheet | October 2022 | November 2022 | M | M | M |
| Consolidated Balance Sheet of the Banking System | August 2022 | November 2022 | M | M | M |
| Interest Rates2 | M | M | M | ||
| Consumer Price Index | October 2022 | November 2022 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | August 2022 (to AFR Niger team) | October 2022 | M | M | NA |
| Stocks of Central Government and Central Government Guaranteed Debt5 | December 2021 (to AFR Niger team) | May 2022 | S | S | NA |
| External Current Account Balance | 2020 | December 15, 2021 | S | S | A |
| Exports and Imports of Goods and Services | 2020 | December 15, 2021 | A | Q | A |
| GDP/GNP | 2020 | January 2022 | A | A | A |
| Gross External Debt | A | I | A | ||
| International Investment Position6 | 2022 | December 15, 2021 | A | A | A |
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability position vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Semiannually (S); Irregular (I); Not Available (NA).