IMF Approves US$134.04 Million under the ECF Arrangement for Niger
“Niger has been able to maintain macroeconomic stability despite major security challenges, continued low oil and uranium prices, and regional economic slowdown. Growth has improved and inflation remains subdued, well below the WAEMU convergence criterion. Significant progress was made under the 2012-16 Extended Credit Facility (ECF) Arrangement, including in strengthening public financial management, debt management and deepening the financial sector, but the impact of the adverse shocks, policy slippages and weak capacity limited the improvement in broader development indicators.
Niger remains one of the least developed countries with numerous social and development challenges.“The new Arrangement under the ECF aims to sustain macroeconomic stability, make growth more inclusive, and reduce poverty, in line with the government’s strategy as laid out in the Economic Development Document. Specific focus is given to enhancing fiscal space and further improving public financial management and the efficiency of spending to facilitate the attainment of Niger’s development goals, in particular to finance infrastructure and social spending. “The medium-term economic outlook is favorable, underpinned by improved agricultural production and a pick-up in natural resource exports. Nevertheless, to address the persisting challenges and risks, policy priorities ahead need to focus on preserving fiscal and debt sustainability. A strong reform agenda anchored on more efficient investment, improved business climate, more inclusive financial development, and a comprehensive strategy for addressing gender issues as well as harnessing the demographic dividend will be critical.” Source / More on: IMF Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>