Côte d’Ivoire has demonstrated significant economic resilience over the past decade, with GDP growth averaging 6.4 percent and inflation around 2.2 percent. The country has maintained macroeconomic stability despite global shocks, but challenges remain, particularly in addressing informal employment and climate change vulnerabilities.
The International Monetary Fund (IMF) recently concluded its 2024 Article IV consultations with Côte d’Ivoire, alongside reviews under the Extended Credit Facility (ECF), Extended Fund Facility (EFF), and Resilience and Sustainability Facility (RSF). Discussions involved Côte d’Ivoire’s Minister of Finance and Budget, Adama Coulibaly, and IMF Mission Chief Olaf Unteroberdoerster.
Adama Coulibaly highlighted Côte d’Ivoire's role as "West Africa’s engine of growth and stability," noting that continuous public investment has helped reduce poverty. He stated that "the Fund’s support has been crucial" in maintaining macroeconomic stability amid global challenges. The RSF arrangement approved in March 2024 is aiding efforts to tackle climate change.
Olaf Unteroberdoerster emphasized the importance of domestic revenue mobilization for creating fiscal space to meet social protection and infrastructure needs. He mentioned that these efforts have helped maintain Côte d’Ivoire's credit rating as a "moderate" debt-distress risk.
Regarding private sector involvement, Adama Coulibaly outlined priorities such as improving governance and delivering high-quality public services. The government aims to reduce informal work by addressing gender inequalities and providing vocational training aligned with private sector needs.
On climate change vulnerabilities, Olaf Unteroberdoerster noted that Côte d’Ivoire is highly susceptible due to its dependence on agriculture and concentration of industries in coastal zones. The IMF supports an ambitious reform agenda focusing on integrating climate change into public finance management, among other measures.
Côte d’Ivoire announced several initiatives at COP29 to enhance climate financing, including establishing a green finance facility aimed at promoting green growth.