The International Monetary Fund (IMF) has approved a $143 million disbursement (approx. 82.52 billion CFA francs) to Benin under its Extended Fund Facility (EFF), Extended Credit Facility (ECF), and Resilience and Sustainability Facility (RSF), in recognition of the country’s robust economic performance and reform efforts. In its latest review, the IMF praised Benin’s rapid economic transformation, highlighting a projected GDP growth of 7.5% in 2024—one of the highest in sub-Saharan Africa. Growth has been fueled by an expanding tech sector, diversified value-added exports, and significant public investment under the government’s reform blueprint, the Government Action Program (PAG).
Benin also met the West African Economic and Monetary Union (WAEMU) fiscal deficit target of 3% of GDP in 2024, a year ahead of schedule, thanks to tight fiscal discipline, improved domestic revenue mobilization, and strategic spending cuts. Finance Minister Romuald Wadagni, a key figure in implementing the reforms, led Benin’s landmark $500 million Eurobond issuance in January 2025, making it the first African country to tap international markets this year. The bond was seven times oversubscribed, signaling strong global investor confidence in Benin’s economic outlook.
In addition, Benin secured a €500 million concessional loan from Deutsche Bank, partially guaranteed by the World Bank, to support critical social infrastructure projects in healthcare, education, and transportation. The IMF noted that its latest financial assistance will help Benin sustain its reform momentum, enhance climate resilience, and promote inclusive, long-term growth. President Patrice Talon’s administration has been lauded for positioning Benin as a rising model of fiscal prudence and development-driven governance in West Africa.
