Source: International Monetary Fund (IMF) |

Coronavirus - Mauritania: International Monetary Fund (IMF) Executive Board completes Fifth Review Under the Extended Credit Facility Arrangement for the Islamic Republic of Mauritania, approves Augmentation and US$52 Million Disbursement

The IMF’s support will provide additional resources to mitigate the pandemic’s socio-economic impact and continue with institutional reforms to foster an inclusive recovery

The COVID-19 pandemic continues to impose severe health, social, and economic hardships in Mauritania, with a 3.2 percent contraction of output expected in 2020; the authorities have responded swiftly to the shock with measures to contain the pandemic and alleviate its economic fallout. They are prioritizing health spending and targeted…

Source: International Monetary Fund (IMF) |

Coronavirus - Zambia: International Monetary Fund (IMF) Statement on Zambia

Imperative that central banks’ operational independence and credibility is maintained, particularly at this critical time when economic stability is threatened by COVID-19

“In response to media inquiry regarding the recently announced change in leadership at the central bank of Zambia, an IMF spokesman made the following statement: “We note the change in leadership announced over the weekend at the Bank of Zambia before the end of the previous Governor’s mandate. The macroeconomic…

Source: International Monetary Fund (IMF) |

Coronavirus - Ethiopia: International Monetary Fund (IMF) reaches a Staff-Level Agreement for the First Review of the Extended Credit Facility-Extended Fund Facility for Ethiopia

The COVID-19 pandemic has had a significant adverse impact on Ethiopia and created serious health and economic challenges

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a virtual 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. Based on the preliminary findings of…

Source: International Monetary Fund (IMF) |

Coronavirus - Gabon: International Monetary Fund (IMF) Executive Board Approves a US$152.61 Million Disbursement Under the Rapid Financing Instrument to Gabon to Address the COVID-19 Pandemic

Weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions

This is the second disbursement under the Rapid Financing Instrument (RFI) to help Gabon address urgent balance of payment needs stemming from the COVID-19 pandemic; weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions; the additional resources…

Source: International Monetary Fund (IMF) |

Coronavirus - Madagascar: International Monetary Fund (IMF) Executive Board approves an additional US$171.9 million disbursement under the Rapid Credit Facility (RCF) to Madagascar to address the COVID-19 Pandemic

Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to the Republic of Madagascar to US$337.9 million; Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue; the additional resources under the…

Source: International Monetary Fund (IMF) |

Coronavirus - Lesotho: IMF Executive Board Approves US$49.1 million in Emergency Support to Lesotho to Address the Covid-19 Pandemic

The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming from the COVID-19 pandemic

The economic consequences of the COVID-19 pandemic in Lesotho have been severe, with a weak global and regional environment reducing exports and remittances; The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming…

Source: International Monetary Fund (IMF) |

Coronavirus - Eswatini: IMF Executive Board Approves US$110.4 Million in Emergency Support to The Kingdom of Eswatini to Address The COVID-19 Pandemic

The immediate priority is to support public health, vulnerable groups and businesses

The COVID-19 pandemic has magnified Eswatini’s existing economic and social challenges, leading to a sharp decline in growth and large financing needs; The IMF approved US$110.4 million in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19…

Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: IMF Executive Board Completes the First Review of the Extended Credit Facility Arrangement for the Democratic Republic of São Tomé and Príncipe

Stepping up structural reforms, especially for the energy sector and revenue mobilization is essential for fiscal sustainability

Continued efforts to mitigate the heavy toll of the COVID-19 pandemic on São Tomé and Príncipe’s economy remain critical; Program implementation was off to a good start in late 2019, and it will be critical to resume fiscal consolidation once the crisis is over; Stepping up structural reforms, especially for…

Source: International Monetary Fund (IMF) |

Coronavirus - South Africa: IMF Executive Board Approves US$4.3 Billion in Emergency Support to South Africa to Address the COVID-19 Pandemic

The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock

The COVID-19 outbreak is leading to a sharp economic contraction and significant financing needs in South Africa; The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock;…

Source: International Monetary Fund (IMF) |

Coronavirus - Chad: International Monetary Fund (IMF) Executive Board approves an additional US$69.49 Million disbursement for Chad and notes Cancellation of its Extended Credit Facility (ECF) Arrangement

Disbursement will provide timely support to fill an urgent financing need to contain the economic impact of the pandemic and provide essential COVID-19-related health expenditure

This is the second disbursement under the Rapid Credit Facility (RCF), to address urgent balance of payment needs stemming from the COVID-19 pandemic; the Chadian economy continues to be severely impacted by the twin Covid-19 pandemic and terms of trade shocks, which led to a weaker than previously envisaged economic…