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Thursday, 30 June 2016

Côte d’Ivoire working to become an emerging economy by 2020

On the side-lines of the OECD Development Centre Governing Board Special Session, held on 24 June at the OECD headquarters in Paris, Côte d’Ivoire Prime Minister Daniel Kablan Duncan participated in a presentation of the Multi-dimensional Review of Côte d'Ivoire (MDRC). The MDRC is a new OECD tool designed to help countries achieve inclusive growth. Since 2014, the OECD Development Centre has teamed up with an Ivoirian experts’ team led by the Prime Minister’s Office, to craft a development strategy for Côte d’Ivoire, a country that aspires to become an emergent economy by 2020. The results are presented in three reports: 1) an initial analysis of the economy (Volume 1), 2) an in-depth analysis of the major obstacles to inclusive and sustainable growth and to citizens’ well-being (Volume II), and 3) an action plan to address obstacles and a scorecard to track progress in implementing suggested reforms (Volume III). Since the end of the post-electoral crisis in 2011, Côte d’Ivoire has undergone a remarkable economic recovery. According to real GDP growth projections of the African Economic Outlook, Côte d’Ivoire will be the fastest growing economy of the African continent in 2016. The inclusive and participative process of the MDRC will allow the country to move further and faster in the reform process. The MDRC identifies key areas for reforms to boost economic diversification, innovation, infrastructure development, as well as the development of the banking and financing sector, the management of public finances and the education system.

Source: OECD