An International Monetary Fund (IMF) staff team, led by Antonio David, conducted meetings from May 5 to May 16, 2025, concerning Niger's economic programs. These discussions focused on the seventh review of the Extended Credit Facility (ECF) and the third review of the Resilience and Sustainability Facility (RSF).
Following these meetings, Mr. David announced that a staff-level agreement had been reached with Nigerien authorities. This agreement pertains to both the seventh review under the ECF and the third review under the RSF. The agreement awaits approval from IMF Management and its Executive Board, with a decision expected in July 2025. If approved, it would enable disbursements totaling SDR 30.3 million (approximately US$ 40.9 million), covering external financing needs.
"Economic growth is expected to remain robust at 6.6 percent in 2025," stated Mr. David, though he noted potential risks due to security issues and reduced development assistance. Inflation is anticipated to decrease to 4.2 percent due to favorable harvests.
Fiscal consolidation will continue while maintaining social spending levels. Revenue mobilization is projected to drive a GDP adjustment of 1.3 percentage points towards a target of 3 percent of GDP. Expenditure growth will be contained, with debt policy focusing on concessional financing.
The ECF arrangement aims to bolster macroeconomic stability and foster private sector-led growth. Performance has been satisfactory against targets set for December 2024 and March 2025, with progress in clearing debt service arrears.
Niger remains committed to implementing structural reforms such as revising its tax code and managing oil revenue strategies effectively. The reinstatement of Niger's supreme audit institution was welcomed by IMF staff as part of efforts to enhance governance and transparency.
"RSF financing supports efforts to advance reforms...building resilience and safeguarding livelihoods," added Mr. David regarding climate change challenges.
The mission included discussions with Prime Minister Ali Mahaman Lamine Zeine, Deputy Minister Mamane Sidi, BCEAO National Director Maman Laouali Abdou Rafa, among others from government and private sectors.
"The team would like to thank the authorities for their cooperation," concluded Mr. David.