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IMF says Ivory Coast close to hitting growth targets


IMF says Ivory Coast close to hitting growth targets

The IMF says the Ivory Coast’s economy continues to grow and will post 8.5% this year, a tad down on last year’s 8.6 percent.

Inflation is also forecast to remain low in the world’s biggest cocoa grower.

Ivory Coast is the largest economy in west Africa and is emerging as one of the continent’s success stories.

However the IMF prediction is more than 1.0 percent shy of the budget ministry’s January forecast of 9.8 percent growth.

The country has overcome a decade of political turmoil as President Alassane Ouattara promised to deliver 10 percent growth annually through 2020. It recently suffered its first attack from ISIL, but Ouattara the important tourist trade will not be effected.

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