Source: International Monetary Fund (IMF) |

African Consultative Group Meeting: Statement by the Chairman of the African Caucus and the Managing Director of the International Monetary Fund (IMF)

Governor Tarek Amer, Chairman of the African Caucus, and Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), co-chaired the African Consultative Group meeting today (April 22, 2018) at the IMF Headquarters. They issued the following statement after the conclusion of the Group’s meeting in Washington:[1] “We had very…

Source: International Monetary Fund (IMF) |

The International Monetary Fund (IMF), Central Bank of Egypt and Government of Egypt to Host Inclusive Growth and Job Creation Conference in Egypt

The conference will bring together international and Egyptian high-level policymakers and other experts to exchange perspectives, and to reflect on successful international reform experience and how these could be relevant in the Egyptian context

The International Monetary Fund (IMF), the Central Bank of Egypt (CBE) and the Government of Egypt will co-host a high-level conference in Cairo on May 5-6, 2018, on promoting higher economic growth and job creation in Egypt. The aim of this event is to recognize the successes in macroeconomic stabilization…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Deputy Managing Director Tao Zhang on Angola

Statement by International Monetary Fund (IMF) Deputy Managing Director Tao Zhang on Angola:  Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today: “We have received a letter from the Angolan authorities for IMF staff to initiate discussions on an economic program that…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes First Extended Credit Facility Review for Chad and Approves US$ 51 Million Disbursement

Completion of this review enables the immediate disbursement of SDR 35.05 million (about US$51 million)

Performance under the ECF-supported program has been satisfactory, reflecting strong commitment by the authorities. Most structural benchmarks have been implemented, but the authorities should accelerate the pace of implementation. Chad’s program is supported by the implementation of policies and reforms by the regional institutions which are critical to its success.…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Completes Combined 2018 Article IV Consultation and Fifth Extended Credit Facility Review Mission for São Tomé and Príncipe

Economic growth is expected to stay at around 4 percent in 2018 and accelerate gradually in the medium term

Real GDP growth is expected to stay at around 4 percent in 2018, and accelerate gradually in the medium term, supported by structural reforms and infrastructural projects. The government reduced the fiscal deficit in 2017 by aligning spending with lower than expected revenues. Efforts are underway to strengthen revenues through…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Completes Visit to Niger

Real GDP is expected to grow by 5.2 percent in 2018, driven mainly by energy and service sectors, and construction activity related to preparations for the 2019 African Union Summit

Staff-level agreement was reached with the authorities on economic and financial policies that could support completion of the second program review Economic activity expanded by 4.9 percent in 2017, with growth of 5.2 percent expected for 2018. Performance in implementing the government’s program supported by the IMF under the Extended…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Team Completes Review Visit to Togo

Economic growth is estimated to have decelerated to 4.4 percent in 2017 from 5.1 percent in 2016

The IMF team reached a staff level agreement with the authorities on economic and financial policies that could support completion of the second review of the three-year ECF-supported program. Performance under the ECF-supported program has been good; all quantitative performance criteria and structural benchmarks at end-December 2017 were met. Economic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Team Completes Visit to Côte d’Ivoire

Based on preliminary estimations, GDP grew by 7.8 percent last year despite the fall in cocoa prices and social demands.

The authorities and the IMF team reached a staff-level agreement on the third review of the ECF and EFF arrangements, subject to approval by IMF management and the Executive Board. GDP grew by 7.8 percent last year despite the fall in cocoa prices and social demands and inflation remained subdued…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission to Guinea-Bissau for Extended Credit Facility (ECF) Review and Request for Program Extension

Upon approval, drawings of SDR 3.028 million (about US$4.4 million) would become available to Guinea-Bissau

Growth has remained strong and the fiscal position has improved markedly. The authorities have requested a one-year extension of the ECF-supported program. Discussions focused on mobilizing revenue to enable priority spending. An International Monetary Fund (IMF) team led by Tobias Rasmussen visited Guinea-Bissau from March 21 to April 3, 2018,…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Program Review Mission to Benin

Economic activity in 2017 continued to be strong, buoyed by record cotton production and the recovery of the Nigerian economy

The IMF team reached staff-level agreement with the authorities on policies that could support the completion of the second review of Benin’s ECF-supported program. The IMF Executive Board is expected to consider the review in June 2018. IMF team worked with the government and development partners to assess sectoral plans…