WASHINGTON, April 10, 2025 (BSS/AFP) - The International Monetary Fund said Wednesday that it had reached a staff-level deal with Ivory Coast authorities, paving the way towards disbursements amounting to about $740 million.

The announcement comes after reviews of the country's economic reform program and its climate change reform program, the IMF said in a statement.

Authorities continue making "great strides" towards objectives that include reducing macroeconomic imbalances and rebuilding regional reserves buffers, the statement added.

The funds will still require IMF executive board approval.

"Performance under the two programs has remained satisfactory," said Olaf Unteroberdoerster, who led the IMF staff team.

"The fiscal deficit target of three percent of GDP in 2025 is maintained in line with West African Economic and Monetary Union (WAEMU) deficit norm," he added.

An agreement was also reached on the "structural reform to further strengthen domestic revenue mobilization, public financial management, and governance," he said.

Ivory Coast's economy "remains resilient, and growth is expected to pick up in 2025 to above 6.0 percent," he added.

This partially reflects a rebound in agricultural production and favorable terms of trade, among other factors.