The International Monetary Fund (IMF) on Monday said its staff reached agreement with authorities from Ivory Coast on a review of two lending programmes, which will pave the way for disbursement of $574-million, once approved by the IMF's executive board.

The IMF said Ivory Coast's performance under its $3.5-billion Extended Fund Facility (EFF) and Extended Credit Facility (ECF) program and the $1.3-billion Resilience and Sustainability Facility (RSF) program had been satisfactory.

It said a staff-level agreement had been reached on all policies and reform measures in line with the programs' objectives, including further revenue-based fiscal consolidation to reduce the fiscal deficit to 3% of gross domestic product by 2025 and on additional structural reforms.

The agreement will allow disbursement of a combined $574-million, once approved by the IMF executive board.