Niger: Seventh Review under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, Extension and Rephasing of the Arrangement, and Third Review under the Resilience and Sustainability Facility Arrang

This paper presents Niger’s Seventh Review of the Extended Credit Facility (ECF) Arrangement and the Third Review of the Arrangement under the Resilience and Sustainability Facility (RSF). The authorities’ implementation of their ECF- and RSF-supported programs was broadly satisfactory. Niger’s economy has demonstrated resilience against shocks stemming from political instability, conflict, and extreme climate events. Economic activity rebounded in 2024 and the near-term outlook is relatively favorable, driven by the extractive sector. Nevertheless, there is significant uncertainty and downside risks are elevated, including those linked to a deterioration of the security situation, the tightening of financing conditions, and further reductions in financial support from development partners. Program implementation was broadly satisfactory. All performance criteria (PC) were met, except for the continuous PC on the non-accumulation of new external arrears. All Indicative targets were met, except for the ITs on the floor for the basic budget balance at the end-December 2024.