Benin

The Republic of Benin is a nation of western Africa, formerly known as Dahomey. It has a small coast line with the Bight of Benin in the south, borders Togo in the west, Nigeria in the east, and Burkina Faso and Niger in the north.

Economy

Main article: Economy of Benin

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The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output has averaged a stable 5% in the past six years, but rapid population rise has offset much of this increase. Inflation has subsided over the past several years. In order to raise growth still further, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. The 2001 privatization policy should continue in telecommunications, water, electricity, and agriculture in spite of initial government reluctance. The Paris Club and bilateral creditors have eased the external debt situation, while pressing for speeded-up structural reforms.

Related Topics:
Cotton - Inflation - Tourism - Paris Club

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