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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on the Second Review of the Extended Credit Facility for Ethiopia

The arrangement was approved by the IMF Executive Board on July 29, 2024, for an initial total amount of SDR 2.556 billion (about US$3.4 billion at that time)

IMF staff and the Ethiopian authorities have reached staff-level agreement on economic policies to conclude the second review of the four-year USD$ 3.4 billion ECF arrangement. Formal completion of the review by the IMF Executive Board would give Ethiopia access to financing of about US$251 million. Implementation of Ethiopia’s homegrown…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

The Gambia: International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility Arrangement

Economic recovery is strengthening while inflation has decelerated significantly

IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement. Economic recovery is strengthening while inflation has decelerated significantly. The Gambia’s reform agenda is advancing despite challenges to fiscal policy. An…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with São Tomé and Príncipe

The authorities’ ambitious reform program aims at restoring macroeconomic stability while laying the foundations for faster and more inclusive growth

IMF staff and the São Toméan authorities have reached staff-level agreement on economic policies and reforms to be supported by a new 40-month arrangement under the Extended Credit Facility (ECF), updating the agreement reached last year. This renewed staff-level agreement is subject to IMF Management approval and IMF Executive Board…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to The Gambia

The Gambia’s reform agenda is advancing despite challenges to fiscal policy

IMF staff and the Gambian authorities conducted productive discussions on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement; Economic recovery is strengthening while inflation has decelerated to single digits; The Gambia’s reform agenda is advancing despite challenges to fiscal policy; The IMF remains committed…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New 38-Month Extended Credit Facility Arrangement with Sierra Leone and Completes 2024 Article IV Mission

The staff-level agreement is subject to approval by the IMF’s Management and Executive Board

IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies and reforms that could be supported by a new 38-month Extended Credit Facility (ECF) arrangement, with requested access of SDR 187 million (about US$253 million); The ECF would support restoring stability through continued macroeconomic adjustment…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Liberia: International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New 40-Month Extended Credit Facility Arrangement

This arrangement, pending approval by the IMF's Management and Executive Board, aims to back the new administration's robust reform agenda

International Monetary Fund staff and the Liberian authorities reached a staff-level agreement on a comprehensive set of policy priorities to support a new 40-month Extended Credit Facility (ECF) arrangement. The SDR 155 million arrangement is subject to approval by the IMF Executive Board. The board discussion is scheduled for September…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Central African Republic

The positive progress in domestic revenue mobilization since the start of the ECF program continued, reaching a record level of CFAF 80 billion during the first half of this year

The Central African Republic (CAR) continues to implement public finance management and governance reforms, despite the particularly difficult socio-economic context and significant financing needs; In the very short term, the main challenges concern the country's fuel supply and the control of budgetary risks; The implementation of the reforms planned under…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2024 Article IV Mission to Botswana

Botswana’s economic growth decelerated from 5.5 percent in 2022 to 2.7 percent in 2023, below the long-run potential growth of 4 percent

Botswana’s economic growth is expected to slow to 1 percent in 2024, primarily because of a diamond market contraction; Inflation has declined sharply since the peak of mid-2022 and returned to the central bank’s objective range of 3 – 6 percent, where it is expected to remain in the medium term.…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Guinea Bissau on Sixth Review of Extended Credit Facility Arrangement

The initial arrangement was approved by the IMF Executive Board for a total amount of SDR 28.4 million (about US$ 37.3 million)

The IMF and Guinea Bissau have reached staff-level agreement on economic policies that could support the sixth review of the Extended Credit Facility (ECF). Once the review is approved by IMF Management and completed by the IMF Executive Board, Guinea Bissau will have access to about US$ 7.2 million; The…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) and Niger Reach Staff-Level Agreement on the Fourth and Fifth Reviews of the Extended Credit Facility and The First Review under the Resilience and Sustainability Facility

The economic outlook is promising over the near and medium term, with growth projected at 10.6 percent this year, driven by oil exports and the lifting of sanctions

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the fourth and fifth reviews of Niger's economic program under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF); The economic outlook is promising over the near and medium term,…