**The IMF Concludes a Staff-Level Agreement with Côte d'Ivoire on the Fourth Review of the EFF and ECF Arrangements and the Third Review of the RSF Agreement** The IMF staff and Ivorian authorities have reached an agreement on the fourth review of Côte d'Ivoire's economic reform program supported by the EFF and ECF arrangements, and on the third review of their climate resilience reform program supported by the RSF agreement. The authorities continue to make significant progress toward achieving their core objectives under the EFF and ECF, reducing macroeconomic imbalances, contributing to rebuilding regional reserves, and deepening economic transformation with a view to achieving upper-middle-income status while further enhancing climate resilience through adaptation and mitigation reforms. The final approval of the EFF/ECF and RSF reviews by the IMF Executive Board will lead to two disbursements totaling approximately $740 million. **Abidjan, Côte d'Ivoire:** A team from the International Monetary Fund (IMF), led by Mr. Olaf Unteroberdoerster, held discussions with Ivorian authorities from March 24 to April 9 on the progress of the economic and financial program supported by the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF), as well as the climate reform program supported by the Resilience and Sustainability Facility (RSF). The EFF/ECF agreement for an amount of SDR 2.6 billion (approximately $3.5 billion) and the RSF agreement for an amount of SDR 975.6 million (approximately $1.3 billion) were approved by the IMF Executive Board on May 24, 2023, and March 15, 2024, respectively. At the end of the mission, Mr. Unteroberdoerster made the following statement: "Following constructive discussions with the Ivorian authorities, I am pleased to announce that we have reached a staff-level agreement on all policies and reform measures consistent with the program objectives. The results achieved under both programs have remained satisfactory, and we have agreed on the measures and structural reforms to be implemented. Regarding the EFF/ECF, the target of a budget deficit of 3% of GDP by 2025 is maintained, in line with the West African Economic and Monetary Union (WAEMU) deficit norm. An agreement has also been reached on structural reform measures aimed at further strengthening domestic revenue mobilization, public financial management, and governance, thereby sustaining the gains from medium-term fiscal consolidation. As for the RSF, discussions mainly focused on the steps to be taken to timely implement the planned reform measures for the remainder of 2025 and for 2026. The measures address the climate transition taxonomy associated with a disclosure framework to stimulate green private investment, the early warning system for natural disasters, greenhouse gas emission reductions, and the integration of climate into public financial management. "The Ivorian economy remains resilient, and growth is expected to accelerate in 2025 to over 6%, partly due to a rebound in agricultural production, favorable terms of trade, and robust growth in the hydrocarbons and mining sectors, as well as in services. The rise in international cocoa prices and the decline in oil prices are expected to contribute to a reduction in the external current account deficit, which will fall below 4% of GDP in 2025. The continued resolute implementation of the medium-term revenue mobilization strategy will promote the ongoing budgetary rebalancing primarily focused on revenues, with the budget deficit expected to be reduced by 1 percentage point to 3% of GDP in 2025, underscoring the commitment to achieving the WAEMU community standard for the overall budget deficit. The medium-term outlook remains favorable. Growth is projected to average 6.5% over the 2026-30 period, while inflation is expected to remain below 3% in 2025. The risks to the outlook remain broadly balanced in an environment of unusually high global uncertainty. "For 2026 and beyond, the continued vigorous efforts to mobilize domestic revenues under the Government's overall medium-term revenue mobilization strategy (MTRMS) will create sufficient fiscal space to finance priority investments in infrastructure and social programs that underpin Côte d'Ivoire's ambitious development plans, while adhering to the WAEMU budget deficit standard. Prudent public financial and debt management will also help maintain a moderate risk of over-indebtedness for public and external debt. The recent success of issuing euro-denominated bonds in dollars and CFA francs underscores the confidence of international financial markets in the benefits of prudent macroeconomic management, making Côte d'Ivoire a cornerstone of regional stability. The IMF team met with His Excellency Mr. Tiémoko Meyliet Koné, Vice President of the Republic; His Excellency Robert Beugré Mambé, Prime Minister; Ms. Nialé Kaba, Minister of Economy, Planning, and Development; Mr. Adama Coulibaly, Minister of Finance and Budget; Mr. Sangafowa Coulibaly, Minister of Mines, Petroleum, and Energy; Mr. Moussa Sanogo, Minister of State Property, State Portfolio, and Public Enterprises, as well as senior government officials and representatives from the BCEAO, business community, and donors. **IMF Communications Department** **MEDIA RELATIONS** **PRESS OFFICER:** Kwabena Akuamoah-Boateng **PHONE:** +1 202 623-7100 **EMAIL:** MEDIA@IMF.org