贝宁：根据扩展基金机制和扩展信贷机制安排进行的第六次审查，以及根据弹性和可持续性机制安排进行第三次审查新闻稿；员工报告；贝宁执行主任的发言

SIXTHREVIEWSUNDERTHE EXTENDED FUNDFACILITY AND THE EXTENDED CREDIT FACILITYARRANGEMENTS, AND THIRD REVIEW UNDER THERESILIENCE AND SUSTAINABILITY FACILITYARRANGEMENT—PRESS RELEASE;STAFF REPORT; ANDSTATEMENT BY THE EXECUTIVE DIRECTOR FORBENIN In the context of theSixthReviewsUnder the ExtendedFund Facility and the ExtendedCredit Facility Arrangements,andThird Review Under the Resilience and SustainabilityFacility Arrangement, the following documents have been released and are included inthis package: •APress Releaseincluding a statement by the Chair of the Executive Board. •TheStaffReportprepared by a staff team of the IMF for the Executive Board’sconsideration onJune 18, 2025,following discussions, that ended onApril11,2025,with the officials ofBeninon economic developments and policies underpinning theIMF arrangementsundertheExtendedFundFacilityand the Extended Credit Facility,and the Resilience and Sustainability Facility. Based on information available at thetime of these discussions, the staff report was completed onJune3, 2025. •AStatement by the Executive DirectorforBenin. TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary FundWashington, D.C. BENIN: IMF Executive Board Completes Sixth Reviews ofExtended Fund and Extended Credit Facilities, and ThirdReview of the Resilience and Sustainability Facility FOR IMMEDIATE RELEASE •The IMF Executive Board today completed the Sixth Reviews of Benin’s Extended FundFacility (EFF) and the Extended Credit Facility (ECF) and the Third Review under theResilience and Sustainability Facility (RSF). The decision allows for an immediatedisbursement of about US$ 90 million. •Benin's successful fiscal reforms supported the convergence to the West AfricanEconomic and Monetary Union (WAEMU) fiscal deficit norm of 3 percent of GDP one yearahead of schedule, with sustained domestic revenue mobilization and prioritized socialspending. The 2025 budget is designed to sustain this achievement. •A key challenge ahead for Benin is to preserve the reform momentum and strengthenpolicies that foster inclusive growth and an economic transformation that benefits allBeninese. Washington, DC:The Executive Board of the International Monetary Fund (IMF) hascompleted the Sixth Reviews under the 42-month blended Extended Fund Facility (EFF) andthe Extended Credit Facility (ECF) arrangements, and the Third Review under the Resilienceand Sustainability Facility (RSF) arrangement. The EFF/ECF was approved by the IMFExecutive Board in July 2022 (seePR 22/252) and complemented by the RSF in December2023 (seePR 23/452). The completion of the reviews allows for the immediate disbursement of about US$ 36 million(SDR 26.2 million) under the EFF/ECF—bringing total disbursements under the program toabout US$ 623 million (SDR 457.6 million)—and of about US$ 54 million (SDR 39.616 million)under the RSF arrangement. Economic activity in Benin accelerated over the past five years, and markedly in 2024. Growthreached 7.5 percent year-over-year—its highest level yet—and it is expected to remain strongin the medium term. The current account of the balance of payments deteriorated temporarily,due to large professional services imports related to the Glo-Djigbé Industrial Zone (GDIZ). Itis expected to recover gradually, as exports from the special economic zones increase andthe services deficit continues to moderate over time. Program performance under the EFF/ECF has been strong, with all end-December 2024quantitative targets met and structural benchmarks completed. On the RSF front, theauthorities adopted new regulations for water resources monitoring, construction, andrenewable energy. They also revised electricity tariff regulations to improve the financialsustainability of electricity production and distribution companies. Benin’s partners havepledged financial support for the country’s climate agenda following COP29 and the 2024climate finance roundtable. Accordingly, the authorities are working on a climate-relatedtaxonomy that is aimed at further catalyzing climate finance. Following the Executive Board discussion on Benin, Mr. Okamura, Deputy Managing Director,and acting chair, issued the following statement: “Benin’s performance under its Fund-supported arrangements has been strong. Its stronginstitutional foundation and the authorities’ economic reform drive and sound macroeconomicmanagement have yielded tangible dividends, with high and more stable growth, favorableaccess to international markets, and continued support from development partners. Theauthorities should nonetheless remain vigi