(Ecofin Agency) - After the pandemic-induced slowdown in 2020, Ivorian growth has been on an upward trend since 2021. The IMF expects the recovery to continue this year, thanks in particular to government investment.

Côte d'Ivoire should have a robust economic growth this year, IMF reported in a recent statement. The institution says the implementation of a solid reform program under the National Development Plan and the discovery in 2021 of additional oil and gas reserves could further support this growth. The Bretton Woods institution hailed the Ivorian authorities for avoiding "the introduction of disruptive containment measures in the implementation of the national strategy to fight against COVID-19.”

“On the vaccination front, progress has been made, with more than 8 million doses administered by end-January. The authorities plan to accelerate the vaccination campaign to administer another 5 million doses before the end of February 2022,” said Luca Antonio Ricci who led the IMF mission in the country.

However, there has been a "significant" increase in inflation in the country, mainly due to "international inflationary pressures and, to a large extent, rising food prices. In addition, the persistence of certain risks such as the emergence of new covid-19 variants and the tightening of global financial market conditions represent a challenge for the continued economic recovery of the West African country.

“The IMF staff team and Ivorian authorities agreed that a key pressing policy priority remains the need to enhance domestic revenue mobilization. This would help to finance productive and social spending to support strong and inclusive growth while preserving macroeconomic and debt sustainability and enhancing macroeconomic resilience,” IMF says.

The IMF forecasted economic growth of 6.5% for the country for 2022.