The International Monetary Fund (IMF) has approved an immediate disbursement of about $33 million to Niger after completing the ninth review of the country’s 60-month Extended Credit Facility (ECF), citing strong programme performance despite persistent economic and security challenges.
The latest disbursement brings total IMF financing under the programme to approximately $342 million, the Fund said following a meeting of its Executive Board. Niger’s ECF arrangement, originally approved in December 2021, has been extended through December 2026 to provide additional time for authorities to implement structural reforms.
The IMF said Niger met all quantitative performance criteria at the end of December 2025, while all continuous performance criteria have been observed since the completion of the eighth review. Most indicative targets were also achieved, reflecting continued progress in implementing reforms under the programme.
“Niger’s economy demonstrated resilience in 2025 despite a challenging environment,” IMF Deputy Managing Director and Acting Chair Kenji Okamura said in a statement.
Okamura said the country’s economic outlook for the near and medium term remains favourable, supported by growth in the extractive industries and agricultural sector.
However, he raised the alarm that the outlook faces significant downside risks, including persistent security challenges, commodity price volatility, tight financing conditions, declining donor support and the continued closure of the border with Benin.
“Reform implementation under the ECF-supported programme continues. Sustained fiscal consolidation efforts are supporting macroeconomic stability,” Okamura explained.
The IMF said higher oil revenues expected in 2026 should help reduce the fiscal deficit while creating room to address urgent social spending and food security needs.
The Fund also affirmed the importance of strengthening domestic revenue mobilisation to create additional fiscal space for development priorities, while maintaining prudent debt management and preventing the accumulation of arrears.
According to the IMF, Niger’s authorities have committed to clearing all external arrears by the end of 2026 and reducing the risk of future arrears through stronger treasury and public debt management.
The IMF also called for accelerated reforms in the financial sector, including a comprehensive assessment of the banking system, measures to strengthen bank balance sheets and liquidity, and faster restructuring of the microfinance sector.
Okamura said governance reforms would be essential to maintaining public confidence and securing continued external financial support.
“Decisive reforms to strengthen governance and anti-corruption frameworks will support public trust, ensure more effective and transparent use of public resources, preserve external financial support, and stimulate private-sector-led, inclusive growth,” he said.
The Fund further noted that completing asset declaration reforms, publishing the Governance Diagnostic Assessment report and adopting a time-bound action plan would be key next steps under the reform programme.
