Niger set for $200 million financial package from IMF
The International Monetary Fund said Thursday it had reached a preliminary agreement with Niger that should see the west African nation receive around $203 million over three years to support its economic reforms.
Preliminary agreement on the 38-month Extended Credit Facility was reached during talks in Niamey and must be approved by the IMF’s Executive Board.
The IMF said the current ECF-supported program has helped Niger preserve macroeconomic stability despite being faced with exceptional economic shocks.
“The new ECF-supported program will consolidate macroeconomic stability and reform achievements, and support implementation of the government’s ambitious 2025-29 development strategy,” the head of the IMF delegation, Julia Bersch, said in a statement.
The IMF expects Niger’s economy to expand by seven percent this year and by nearly as much in 2027, lifted by agriculture and oil exports.
However the IMF warned of significant risks, particularly related to security — jihadist attacks are a regular occurrence — as well as climate-related shocks.
