Following the Executive Board's discussion of the request by Côte d'Ivoire, Mr. John Lipsky, First Deputy Managing Director and Acting Chair, said:
"Côte d'Ivoire is progressing on its way to effective reunification and sustained peace. Although there have been delays in implementing the Ouagadougou Accord, a climate of political dialogue is evident, and the improved security situation is beginning to pay off in better economic outcomes. Projected growth in real per capita income in 2008 is expected to benefit growth throughout the subregion.
"Fiscal developments in 2007 were close to overall program targets, although the overruns on non-productive spending were made at the expense of infrastructure and crisis-exit programs. The authorities took significant steps to make payments to the World Bank and the African Development Bank and to reduce domestic arrears.
"The continued support of the international community remains essential for Côte d'Ivoire to achieve sustainable peace and economic recovery. This support will be facilitated by the early completion of the Poverty Reduction Strategy Paper (PRSP), using broad-based consultations with the population. Directors agreed that a track record of solid policy implementation under EPCA could help pave the way for a PRGF arrangement and a HIPC Decision Point" Mr. Lipsky said.
Source: IMF
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