Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Fourth Review Under the Policy Support Instrument (PSI) and Extends Arrangement for Senegal

The Policy Support Instrument with Senegal has supported the authorities’ reform efforts to increase growth

The program aims to implement economic policies and structural reforms needed to sustain strong growth and ongoing fiscal consolidation to meet the regional fiscal criteria. The Policy Support Instrument with Senegal has supported the authorities’ reform efforts to increase growth. Under the Plan Sénégal Emergent (PSE), growth has increased steadily…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$16.1Million Disbursement Under the Rapid Credit Facility for The Gambia

The Gambia faces an urgent balance of payments need triggered by a weak agricultural season, lower tourism receipts due to the political turmoil early this year, and higher commodity prices

The Board’s approval enables the immediate disbursement of US$16.1 million, which is equivalent to 18.75 percent of The Gambia’s quota in the IMF. The IMF financial assistance is intended to address urgent balance of payments needs that have arisen on account of the shocks. Determined and strong policy implementation under…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$666.2 Million Arrangement Under the Extended Credit Facility for Cameroon

Cameroon’s ECF-supported program aims to restore the country’s fiscal and external sustainability and unlock job-rich, private sector-driven growth

Executive Board decision allows an immediate disbursement of SDR 124.2 million (about US$171.3 million) to Cameroon. Cameroon’s ECF-supported program aims to restore the country’s fiscal and external sustainability and unlock job-rich, private sector-driven growth. Reforms to maintain financial stability and boost financial inclusion, and address structural obstacles to competitiveness and…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Sixth PSI Review for Tanzania and Approves Six-Month Extension of the Program

Tanzania’s performance under the Policy Support Instrument has been satisfactory, macroeconomic performance has been strong, and the medium-term outlook remains favorable

Program aims to maintain macroeconomic stability and promote more equitable growth. Performance under the program has been satisfactory, macroeconomic performance has been strong, and medium-term outlook remains favorable. Sustained implementation of reforms, including to create a better and more predictable business environment, is critical. The Executive Board of the International…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to the Republic of Equatorial Guinea

Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake

The country needs to reduce macroeconomic imbalances to more sustainable levels and restore economic growth in order to preserve macroeconomic stability. Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake. To preserve macroeconomic stability…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Ninth Review under Malawi’s ECF Arrangement and Approves US$ 26.9 Million Disbursement

eal GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output

The program is aimed at macroeconomic stability, growth, economic diversity and reduced poverty. Real GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output. The macroeconomic outlook remains challenging, reflecting uncertainties related to adverse weather conditions and policy slippages. The Executive Board of the…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2017 Article IV Consultation with Seychelles

Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector

On June 2, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Seychelles.   Macroeconomic performance continued to be strong in 2016. Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector.…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$642 Million Extended Arrangement Under the Extended Fund Facility (EFF) for Gabon

On June 19, 2017, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Gabon for SDR 464.4 million (about US$642 million), or 215 percent of Gabon’s quota, in support of the authorities’ medium-term recovery program.  Today’s Executive Board’s decision enables an immediate…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Reviews Under the ECF and Extended Arrangements for Côte d’Ivoire and Approves US$133.8 Million Disbursement

Côte d’Ivoire’s performance under its Fund-supported program has been satisfactory

The country’s economic outlook remains strong, with growth projected at about 7 percent in 2017–19. Completion of the review enables the disbursement of $134 million. The ECF/EFF-supported programs aim at supporting the authorities’ efforts to achieve a sustainable balance of payments, inclusive growth, and poverty reduction. On June 19, 2017, the…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to Swaziland

Swaziland’s key challenge going forward is to preserve macroeconomic stability against low SACU revenue and sustain growth to make inroads in reducing high unemployment and income inequality

The IMF estimates 2016 growth to stagnate, with a muted recovery envisaged in 2017, as the weaker fiscal position weighs heavily on the outlook. Significant fiscal adjustment is needed to ensure macroeconomic stability and debt sustainability. Structural reforms to address the lack of skilled workers, simplify business regulations, and strengthen…