Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Statement on Tunisia

Completion of the review would make available SDR 177 million (about US$257 million), bringing total disbursements under the EFF to about US$1.2 billion

The Tunisian authorities and the IMF team have made significant progress in the discussions on the policies needed to complete the Third Review. The Tunisian economy showed signs of recovery in the first quarter of 2018, with the highest growth since 2014 supported by agriculture and exports. Risks to macroeconomic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

Monetary policy targets core inflation of 5 percent

An IMF team led by Axel Schimmelpfennig visited Kampala May 15‒28, 2018 to continue discussions for a 3-year non-financial Policy Coordination Instrument. The mission met with President Museveni, Minister Kasaija, Governor Tumusiime-Mutebile, Permanent Secretary/Secretary to the Treasury Muhakanizi, members of parliament, private sector representatives, and senior government officials. The mission…

Source: International Monetary Fund (IMF) |

International Monetary Fund Executive Board Completes First Review of the Arrangement Under the Extended Credit Facility with the Islamic Republic of Mauritania

The economy is recovering, with growth estimated at 3.5 percent in 2017 and projected at 3 percent in 2018

Policy implementation has been satisfactory and the program is on track. The Board’s decision enables immediate disbursement of US$ 23.5 million to Mauritania. The economy is recovering, with growth estimated at 3.5 percent in 2017 and projected at 3 percent in 2018. The outlook is positive, although considerable challenges remain to achieve…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Visit and Reaches Staff-Level Agreement on a Third Staff-Monitored Program with Somalia

For 2018, growth is projected to increase to 3.1 percent from an estimated 2.3 percent in 2017, and inflation is expected to ease to under 3 percent from around 5.2 percent in 2017

The Somali authorities and the IMF reach a staff-level agreement on a new 12-month Staff-Monitored Program (SMP) covering the period May 2018-April 2019 (SMP III). The IMF supports the authorities’ initiative to reach out to donors to mobilize the needed support and funding to launch a new national currency. IMF…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Senegal

The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018

Economic growth has continued to be strong, while inflation has remained low. The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018. Senegal continues to manage its debt carefully. A staff team from the International Monetary Fund (IMF), led by…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on the Fourth Review under the Extended Credit Facility for the Central African Republic

An International Monetary Fund (IMF) team led by Mr. Samir Jahjah held program discussions with the Central African Republic authorities on the fourth review of the program supported by an Extended Credit Facility (ECF)

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The view expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) |

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

Forward-looking discussions focused on economic and financial policy commitments for the remainder of the SMP, which was extended through September 2018 to enable the completion of the program reform agenda

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) First Deputy Managing Director David Lipton on Meeting with Egypt’s President

Following a meeting with Egypt’s President Abdel Fattah El Sisi in Cairo today (May 7, 2018), Mr. David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement: “President El Sisi and I discussed Egypt’s economic outlook and progress in Egypt’s reform program supported by…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Burkina Faso

The overall fiscal deficit widened sharply in 2017 to 7.7 percent of GDP, an unprecedented level for Burkina Faso where fiscal deficits in recent years have typically ranged from 2 to 4 percent of GDP

Burkina Faso’s economy expanded by more than 6 percent per year on average during 2016-2017, showing considerable resilience in the face of security and weather-related shocks. The fiscal deficit widened sharply in 2017 because of a substantial increase in spending, mainly on investment, but also on wages and salaries. The…

Source: International Monetary Fund (IMF) |

Inclusive Growth and Job Creation in Egypt

Remarks to the Government of Egypt-IMF Conference: IMF First Deputy Managing Director David Lipton

Thank you for Minister El-Garhy for your kind introduction. I am very happy to be in Cairo, and honored to see that we are joined this evening by such a distinguished group. I would like to thank the Government of Egypt for agreeing to organize this conference with the IMF.…