Recognizing the positive performance of Niger’s economy, an IMF delegation in Niamey reached an agreement with the ruling military Government on November 11 to disburse $43 million to support the country’s finances.
This funding, a significant financial boost for Niger, comes as part of the Special Drawing Rights (SDRs) initiative promised to African countries during the COVID-19 pandemic. The funds are split into two parts: $17 million to stabilize the economy and support public finances, and $26 million to address climate resilience and adaptation needs.
The IMF attributes Niger’s robust economic growth—projected at 8.8% GDP growth for 2024—to three key factors: Niger’s recent entry into oil exports, a successful agricultural season despite flood challenges, and the lifting of ECOWAS sanctions following the July 26, 2023, coup against former President Mohamed Bazoum. The IMF is optimistic about Niger’s trajectory, forecasting a growth rate of 7.9% for 2025 and expecting inflation to ease.
However, this growth remains vulnerable to security and financial challenges, as well as concerns over fiscal transparency. While the IMF acknowledges Niger’s progress in anti-corruption measures, it also urges the government to improve budgetary accountability to bolster economic stability.