The mission reached a staff-level agreement, subject to completion of agreed prior actions, plus IMF management approval and Executive Board consideration.
The ECF arrangement was approved on January 30, 2023, for $37.3 million. The IMF later granted an augmentation of access to 140% of quota, raising access to $57.09 million, approved on November 29, 2023.
In a statement issued at the end of the mission, Hobdari said Executive Board completion of the Eleventh Review would enable a disbursement of $1.6 million. The disbursement would bring total disbursements under the arrangement to about $52.8 million.
Hobdari said all end‑March 2026 programme targets were met, including quantitative performance criteria, indicative targets, structural benchmarks, plus continuous performance criteria.
Economic growth in 2025 was estimated at 5.8%, supported by agricultural production, particularly cashew exports, plus solid private investment. Growth is projected to moderate in 2026 amid a more difficult external environment, including higher global fuel prices linked to the Middle East conflict, plus possible disruption to the cashew marketing campaign due to production plus logistics constraints.
Hobdari said policy priorities include achieving the 2026 domestic primary surplus target through stronger revenue mobilisation plus strict expenditure prioritisation. Prior actions referenced in the statement include reinforcing tax administration, tightening expenditure controls, strengthening debt management, plus preserving investor confidence.
The outlook remains exposed to downside risks, including adverse weather, weaker terms of trade, plus tighter financing conditions. The statement highlighted the need to curb non-priority spending until cashew-related revenue materialises, plus continued diversification efforts in fisheries plus extractives, including oil, phosphate, plus bauxite.
The IMF team met the transitional Prime Minister, Minister of Finance Té, the Central Bank of West African States National Director Cassama, senior officials, plus representatives of public enterprises, plus development partners.
–IMF/ChannelAfrica–
