Niger Unlocks Access to Fresh IMF Loan
Niger government has unlocked access to an additional loan from the International Monetary Fund (IMF) following a staff-level agreement on the ninth review of the country’s economic program supported by the Extended Credit Facility.
The country’s economic growth was solid in 2025 at 6.9 per cent and is projected to remain strong at 7 per cent in 2026, the IMF said in an official statement.
The Fund stated that medium-term prospects are favourable, given Niger’s significant economic potential, though subject to downside risks, including heightened security risks, conflicts, and climate shocks.
The Nigerien authorities remain committed to pursuing structural reforms to strengthen public financial management and accelerate implementation of their oil revenue management strategy to support Niger’s development plan.
IMF staff team, led by Ms. Julia Bersch said, “The Nigerien authorities and IMF staff reached staff-level agreement on the ninth review of Niger’s economic program supported by the ECF.
“The agreement is subject to approval by the IMF Executive Board, with a Board meeting expected to take place in late July 2026. Completion of the review would enable the disbursement of SDR 24.0828 million (about US$33 million) to help meet Niger’s external financing needs and support reform implementation.
“Economic growth remained robust in 2025 at 6.9 percent and is projected at 7 percent in 2026, driven mainly by agriculture and the extractive sector. While inflation declined significantly in 2025, averaging -4.7 percent, prices have recently started to increase, and inflation is projected to average -1.9 percent in 2026.
“The war in the Middle East is affecting Niger mainly through higher oil prices, with an overall net positive effect, while higher transportation costs and import prices are weighing on inflation and the most vulnerable households.
“Over the medium term, growth is projected to remain on average around 6.1 percent. The outlook is subject to downside risks, including heightened security risks, conflicts, and climate shocks. Elevated gross financing needs and a further decline in concessional financing could exacerbate fiscal pressures.
“The fiscal deficit stood at 2.9 percent of GDP in 2025, 0.4 percent of GDP lower than projected, complying with the WAEMU fiscal convergence criterion (3 percent of GDP).
“This reflects significant domestic revenue mobilization efforts and higher proceeds from crude oil exports. For 2026 the fiscal deficit is projected to widen to 3.4 percent of GDP to accommodate reconstruction spending following last year’s natural disasters and to support vulnerable households hit by the current commodity price shock.
“In view of significant risks and tight financing conditions, the authorities will use part of the expected oil windfall to build buffers while continuing to pursue prudent borrowing policies and prioritizing concessional financing and grants.
“The ECF-supported program aims to strengthen macroeconomic stability and create the basis for resilient, inclusive, and private sector-led growth.
“Program performance against end-December 2025 and end-March 2026 targets was satisfactory, and the authorities have made significant progress in strengthening cash flow management and clearing arrears, as well as increasing transparency by publishing the oil contracts signed between the state and oil companies.
“Despite the challenging environment, the authorities remain committed to continuing to implement key structural reforms to support revenue mobilisation and strengthen governance, accountability, and transparency.
“Efforts to strengthen the banking sector and improve its capacity to support private sector-led growth will also continue, including through a financial-sector revitalisation project and support program for micro, small, and medium-sized enterprises, supported by the World Bank.” IMF Approves Fresh Loan for Rwanda
