The IMF Executive Board confirmed in February 2026 that the final reviews were completed, clearing the way for a further $118 million disbursement.

Economic performance has remained among the strongest in West Africa. Real gross domestic product (GDP) growth is projected at 7.5% in 2025, supported by agriculture, construction, trade, plus expansion of special economic zones.

Public finances have improved markedly over the past year. The fiscal deficit narrowed to 3.1% of GDP in 2024, down from more than 5% the previous year. The deficit is expected to remain below the West African Economic and Monetary Union ceiling of 3% over the medium term, supported by stronger tax collection plus tighter expenditure control.

Higher revenue mobilisation is also helping to fund increased social spending. Social expenditure is expected to rise to about 27% of the 2026 budget, supporting programmes such as school feeding, health insurance, plus cash transfers for vulnerable households.

Despite progress, challenges remain. Public debt has been revised upward to about 60.5% of GDP, largely due to accounting changes. The IMF continues to assess debt distress risk as moderate, while emphasising the importance of maintaining fiscal discipline.

The IMF has also highlighted the need to strengthen domestic revenue mobilisation further plus improve transparency, particularly in state-owned enterprises.

Looking ahead, the outlook faces risks linked to political uncertainty ahead of the April 2026 presidential elections, regional security pressures, plus climate-related shocks. Even with these headwinds, the IMF assessment points to improving investor confidence, reinforced by successful international bond issuances plus sukuk activity, as a potential buffer for continued reform momentum.

–IMF/ChannelAfrica–