The International Monetary Fund (IMF) has concluded its 2026 Article IV consultations with Niger and reached a staff-level agreement on the tenth review of the country's economic program supported by the Extended Credit Facility (ECF). The agreement was announced on October 8, 2026, after an IMF team led by Julia Bersch visited Niamey from September 28 to October 8, 2026. The team discussed the review of Niger's economic program and a new 38-month program under the ECF.
The new program aims to consolidate macroeconomic stability and reform gains, supporting the implementation of Niger's ambitious 2025-2029 development strategy. The program will focus on strengthening budget capacity, preserving debt viability, consolidating financial stability, and promoting more robust and inclusive growth driven by the private sector. The IMF team met with Niger's Prime Minister, Ali Mahaman Lamine Zeine, and other high-ranking officials to discuss the program.
Niger's economic growth is expected to remain robust at 7% in 2026 and 6.7% in 2027, driven primarily by agriculture and the extractive sector. Inflation is projected to average -2.5% in 2026 and 2.2% in 2027. The country's budget deficit is expected to be 3.4% of GDP in 2026, reflecting reconstruction efforts after last year's natural disasters and support for vulnerable households affected by rising food and fuel prices.
The current ECF-supported program has helped Niger maintain macroeconomic stability and achieve significant budget and external adjustment despite numerous shocks. The program's results have been solid, with authorities continuing to clear residual domestic and external arrears. The new program will build on these gains, supporting Niger's efforts to promote economic transformation and improve the business environment.
The IMF team also discussed Niger's efforts to mobilize domestic revenue, reform public financial management, and strengthen governance, accountability, and transparency. The authorities are committed to pursuing these efforts, which will be supported by a program with the World Bank to support micro, small, and medium-sized enterprises.
The agreement is subject to approval by the IMF's Executive Board, which is expected to meet in early December 2026. Upon approval, Niger will receive a disbursement of 26.3244 million Special Drawing Rights (approximately $36 million), which will help address the country's external financing needs and support the implementation of reforms.
The IMF and Niger have a long-standing relationship, with the IMF providing financial support and policy advice to help the country address development challenges. The new program will support Niger's efforts to achieve sustainable and inclusive growth, reduce poverty, and improve living standards.
Key points
- The IMF has reached a staff-level agreement with Niger on a new 38-month program under the Extended Credit Facility.
- Niger's economic growth is expected to remain robust at 7% in 2026 and 6.7% in 2027.
- The new program aims to consolidate macroeconomic stability and reform gains, supporting the implementation of Niger's 2025-2029 development strategy.
