Poverty Reduction Support Credits

Benin experienced a long period of political instability and economic challenges after achieving its independence in August 1960. In 1991 a new government initiated far-reaching reforms aimed at the creation of a market-based economy, resulting in significant liberalization of Benin's political and economic system. Growth fluctuated in the range of 4-6 percent until 2000, after which it began to trend downwards, fluctuating largely in response to variation in the exchange rate as well as to movement in the prices of cotton, Benin's main export, and oil, a major import. Benin benefited from support under the Environmental and Social Assessment Framework (ESAF) and Poverty Reduction and Growth (PRGF) facilities, the latter continuously since 1993. According to an independent ex-post review (International Monetary Fund 2004), program implementation during 1993-2003 was broadly successful. Real economic growth averaged 5 percent and fiscal consolidation improved as key initial challenges arising from the Government's low revenue collection and high wage bill were addressed. But overall progress in structural reform was mixed. Initial efforts to liberalize the economy and reduce government intervention were successful, and there was progress in introducing far-reaching reforms in the cotton sector. A new poverty reduction growth facility was approved in August 2005.

Bibliographic Details

Main Author:	Horton, Brendan
Format:	Working Paper biblioteca
Language:	English en_US
Published:	Washington, DC: World Bank 2010-09
Subjects:	ACCOUNTABILITY, ACCOUNTING, ACCOUNTING SYSTEM, ADJUSTMENT LENDING, ALLOCATION, ANNUAL PERFORMANCE, ANNUAL RATE, ARTICLE, ASSESSMENT OF PERFORMANCE, BALANCE OF PAYMENTS, BANK POLICY, BASIC SERVICES, BORROWER, BUDGET CREDIBILITY, BUDGET CYCLE, BUDGET EXECUTION, BUDGET EXECUTION REPORTING, BUDGET FORMULATION, BUDGET INFORMATION, BUDGET LAW, BUDGET MANAGEMENT, BUDGET PREPARATION, BUDGET PREPARATION CYCLE, BUDGET PREPARATION PROCESS, BUDGET REFORM, BUDGET REPORTING, BUDGET SUPPORT OPERATIONS, BUDGET SYSTEM, BUDGET YEAR, BUDGETARY EXPENDITURES, BUDGETARY IMPLICATIONS, BUDGETARY PROCEDURES, CAPACITY BUILDING, CAPACITY CONSTRAINTS, CAPITAL INVESTMENT, CASH FLOW, CIVIL SERVICE, CIVIL SERVICE REFORM, CONDITIONALITIES, CONDITIONALITY, CONSENSUS BUILDING, COUNTERPART FUNDS, COUNTRY PROCUREMENT, COUNTRY PROCUREMENT ASSESSMENT, CURRENT ACCOUNT DEFICIT, DEBT, DEBT RELIEF, DEBT SUSTAINABILITY, DECENTRALIZATION, DECENTRALIZATION PROCESS, DECENTRALIZATION STRATEGY, DEPOSIT, DEVALUATION, DEVELOPMENT BANK, DIAGNOSTIC WORK, DISBURSEMENT, DISBURSEMENTS, DONOR COORDINATION, ECONOMIC GROWTH, EVALUATION CAPACITY, EVALUATION METHODOLOGY, EXCHANGE RATE, EXCHANGE RESERVES, EXPENDITURE PRIORITIES, EXPENDITURE PROGRAM, EXPENDITURES, EXTERNAL FINANCING, EXTERNAL SHOCKS, FIDUCIARY ASSESSMENT, FINANCES, FINANCIAL ACCOUNTABILITY, FINANCIAL ASSISTANCE, FINANCIAL INFORMATION, FINANCIAL OPERATIONS, FINANCIAL OVERSIGHT, FINANCIAL SECTOR, FINANCIAL SUPPORT, FINANCIAL TRANSFERS, FISCAL AFFAIRS, FISCAL BALANCE, FISCAL CONSOLIDATION, FISCAL DECENTRALIZATION, FISCAL RISKS, FISCAL YEARS, FOREIGN EXCHANGE, FOREIGN EXCHANGE RESERVES, GENERAL BUDGET SUPPORT, GOVERNMENT ACCOUNTS, GOVERNMENT BUDGET, GOVERNMENT FINANCE, GOVERNMENT FINANCE STATISTICS, GOVERNMENT INTERVENTION, GOVERNMENT POLICY, GRANT PROGRAM, GROWTH RATE, HEALTH SERVICES, HUMAN CAPITAL, HUMAN RESOURCES, INDEPENDENT ASSESSMENT, INFLATION, INFORMATION SYSTEM, INSTITUTIONAL DEVELOPMENT, INSTRUMENT, INTERNAL AUDIT, INTERNAL CONTROLS, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INVESTMENT CLIMATE, INVESTMENT PROJECTS, JUDICIAL SYSTEMS, LENDING INSTRUMENTS, LOAN, MACROECONOMIC FRAMEWORK, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MEDIUM-TERM EXPENDITURE, MEDIUM-TERM EXPENDITURE FRAMEWORK, MINISTRY OF ECONOMY, MINISTRY OF FINANCE, MONETARY FUND, NATIONAL BUDGET, NATIONAL DEVELOPMENT, OUTCOME INDICATORS, PAYMENT DELAYS, PERFORMANCE ASSESSMENT, PERFORMANCE AUDITING, PERFORMANCE AUDITS, PERFORMANCE INDICATORS, PERFORMANCE MONITORING, PERFORMANCE REPORTS, PERSONNEL MANAGEMENT, POLICY FORMULATION, PORTFOLIO, POVERTY ASSESSMENT, POVERTY REDUCING, POVERTY REDUCTION, POVERTY REDUCTION STRATEGIES, POVERTY REDUCTION STRATEGY, POVERTY REDUCTION SUPPORT, PRICE MOVEMENTS, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATE SECTOR GROWTH, PROGRAM BUDGETING, PROGRAM BUDGETS, PROGRAM IMPLEMENTATION, PROGRAMS, PUBLIC ADMINISTRATION, PUBLIC AGENCIES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURE MANAGEMENT REFORM, PUBLIC EXPENDITURE REFORM, PUBLIC EXPENDITURE REVIEW, PUBLIC EXPENDITURE TRACKING, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FINANCIAL MANAGEMENT SYSTEMS, PUBLIC INVESTMENT, PUBLIC SECTOR, PUBLIC SECTOR MANAGEMENT, PUBLIC SECTOR REFORM, PUBLIC UTILITIES, QUALITY OF EDUCATION, REAL EXCHANGE RATE, REFORM AGENDA, REFORM OBJECTIVES, REFORM PROGRAM, REGULATORY FRAMEWORK, RESOURCE AVAILABILITY, RESOURCE FLOWS, RESOURCE MANAGEMENT, SANITATION, SCHOOL FEES, SECTOR BUDGETS, SECTOR MINISTRIES, SECTOR MINISTRY, SECTOR PROGRAMS, SECTORAL OBJECTIVES, SERVICE DELIVERY, SHARE OF INVESTMENT, STRUCTURAL ADJUSTMENT, STRUCTURAL REFORM, STRUCTURAL REFORMS, SUSTAINABILITY ANALYSIS, SWAP, TOTAL EXPENDITURE, TOTAL EXPENDITURES, TRADING, TRANCHE, TRANCHES, TRANSPARENCY, TRUST FUND, WAREHOUSE,
Online Access:	http://documents.worldbank.org/curated/en/934081468200937181/Poverty-reduction-support-credits-Benin-country-study https://hdl.handle.net/10986/27927
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