The International Monetary Fund (IMF) staff and the Ivorian authorities have reached a service-level agreement on economic policies and reforms that need to be supported by a new 40-month agreement. The deal is worth approximately $3.5 billion.

An IMF-supported program would aim to preserve the sustainability of public finances and debt and advance the authorities' agenda for deeper economic transformation as part of the 2021—25 National Development Plan. Indeed, according to the statement, while the economy has been hit hard by the triple shock of the Covid-19 pandemic, the global financial tightening, and the negative fallout from Russia's war in Ukraine, the authorities have taken steps to strengthen macroeconomic stability and reverse growing fiscal and external imbalances.

According to the same document, “the Ivorian economy has weathered the pandemic well, but the economic rebound has subsided due to the negative fallout from Russia's war in Ukraine and global monetary tightening.” Noted that the final agreement on this program is subject to approval by the IMF Executive Board.