The International Monetary Fund Executive Board completed the seventh and final review of Benin’s blended Extended Fund Facility and Extended Credit Facility arrangements and the fourth and final review under the Resilience and Sustainability Facility, enabling an immediate disbursement of about USD 118 million (SDR 85.9 million). The disbursement comprises about USD 36.3 million (SDR 26.5 million) under the EFF/ECF, bringing total EFF/ECF disbursements to about USD 664.7 million (SDR 484 million), and about USD 81.6 million (SDR 59.4 million) under the RSF, bringing total RSF disbursements to about USD 204 million (SDR 148.6 million). The release notes that all end-June 2025 quantitative performance criteria and end-September 2025 indicative targets were met, with structural benchmarks implemented, and that the authorities completed the remaining six RSF reform measures spanning climate-related public financial management, water tariffs, an agricultural insurance scheme, social protection, and the climate-financial-information architecture. It also reports a 2024 fiscal deficit of 3.1 percent of GDP, a 2026 budget targeting a deficit within the West African Economic and Monetary Union ceiling of 3 percent of GDP, and a statistical reclassification that raised central government debt to 60.5 percent of GDP at end-2024 while retaining a moderate risk of debt distress. The EFF/ECF arrangements were approved in July 2022 and complemented by the RSF arrangement in December 2023, with the completed reviews described as final under each arrangement.
International Monetary Fund 2026-02-25
International Monetary Fund Executive Board completes final reviews of Benin EFF, ECF and RSF arrangements and approves immediate USD 118 million disbursement
The IMF Executive Board completed final reviews of Benin’s Extended Fund Facility, Extended Credit Facility, and Resilience and Sustainability Facility, enabling an immediate disbursement of approximately USD 118 million. All performance criteria and targets were met, with structural benchmarks implemented, including reforms in climate-related financial management and social protection. The 2024 fiscal deficit was reported at 3.1% of GDP, with a 2026 budget targeting a deficit within the West African Economic and Monetary Union ceiling of 3% of GDP.