Macroeconomic policy development in Benin

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dc.contributor.authorHeffernan, Ian
dc.date.accessioned2023-06-05T16:15:16Z
dc.date.available2023-06-05T16:15:16Z
dc.date.issued2023
dc.description.abstractThis document outlines the economic impact of the COVID-19 pandemic in Benin. We focus on the monetary and fiscal policy implemented by the government of Benin and the Central Bank of West African States (BCEAO). We found that the government and the central bank acted rapidly to contain the spread of the virus to minimize any adverse economic consequences. Fiscal policy took the form of cash transfers and subsidies for households and firms. Monetary policy expanded liquidity through banking and microfinance institutions. A portion of liquidity was specifically allocated to the agricultural sector to ensure food security. The expansion in liquidity increased consumer prices, which increased the cost of living and could potentially increase poverty. Future fiscal policy should better target those households most impacted by the price increase.en
dc.format.mimetypeapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10625/62043
dc.language.isoen
dc.relation.ispartofCOVID-19 MACROECONOMIC POLICY RESPONSES IN AFRICA 10en
dc.subjectCOVID-19 RESPONSEen
dc.subjectCENTRAL BANKSen
dc.subjectMACROECONOMIC POLICYen
dc.subjectMONETARY POLICYen
dc.subjectBENINen
dc.subjectSOUTH OF SAHARAen
dc.titleMacroeconomic policy development in Beninen
dc.typePolicy Briefen
idrc.copyright.oapermissionsourceCC BY 4.0en
idrc.dspace.accessOpen Accessen
idrc.project.componentnumber109532001
idrc.project.number109532
idrc.project.titleCOVID-19 macroeconomic policy response in Africaen
idrc.rims.adhocgroupIDRC SUPPORTEDen

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