Abidjan, Côte d’Ivoire – Côte d’Ivoire has emerged as a pillar of growth and stability in the region, thanks to its impressive economic resilience and commitment to reform. Over the past decade, the Ivoirien economy has demonstrated strong performance, with GDP growth averaging 6.4 percent, inflation maintained around 2.2 percent, and a declining proportion of the population living below the national poverty line. Despite facing major global shocks, the country has maintained macroeconomic stability.
The International Monetary Fund (IMF) recently analyzed Côte d’Ivoire’s economic situation during the 2024 Article IV consultations and reviews under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The IMF’s Country Focus editorial team spoke with Côte d’Ivoire’s Minister of Finance and Budget, Adama Coulibaly, and IMF Mission Chief Olaf Unteroberdoerster about the country’s progress towards joining the ranks of upper middle-income countries and its efforts to tackle climate change.
Following a climate financing roundtable in July, convened jointly by the Ivoirien government, the IMF, and the World Bank, Côte d’Ivoire announced a wide range of initiatives at the recent COP29 meetings to catalyze climate financing. These initiatives include strengthening the coordination of budget support, including grants; expediting the implementation of adaptation projects through a project preparation financing mechanism; establishing a green finance facility to promote green growth; and enhancing support for the financing of private-sector investment.
These efforts are critical as Côte d’Ivoire continues to address ongoing challenges while fostering economic transformation and adapting to climate change. The commitment to sustainable growth and environmental resilience marks a significant step towards a prosperous future for the nation.