Source: International Monetary Fund (IMF) |

IMF Reaches Staff Level Agreement on the Third Review of the Extended Fund Facility and Extended Credit Facility for Kenya

A staff team from the International Monetary Fund (IMF) led by Mary Goodman, conducted a hybrid mission to Kenya and in Washington DC from March 31 – April 22

IMF staff and the Kenyan authorities have reached a staff-level agreement on economic policies to conclude the third reviews of the 38-month EFF/ECF financed program. Kenya would have access to about US$244 million in financing once the review is formally completed by the IMF Executive Board. The economic rebound is…

Source: International Monetary Fund (IMF) |

African Consultative Group Meeting: Statement by the Chairman of the African Caucus and the Managing Director of the IMF

The IMF has been playing its part and reformed its concessional lending toolkit for low-income countries to provide greater flexibility to the access levels

Moroccan Minister of Economy and Finance Ms. Nadia Fettah, Chair of the African Caucus, and Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), co-chaired the African Consultative Group meeting on Thursday, April 21, 2022. They issued the following statement after the conclusion of the Group’s meeting in Washington D.C.:…

Source: International Monetary Fund (IMF) |

IMF Staff Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility Arrangement with the Republic of Congo

Fiscal policy will need to maintain the delicate balance between supporting a robust economic recovery while safeguarding debt sustainability

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for the Republic of Congo, conducted a virtual mission with the Congolese authorities during March 31-April 18, 2022, to discuss the first review of the three-year arrangement for the Republic of Congo under the Extended Credit Facility Arrangement.…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2022 Article IV Mission to Côte d’Ivoire

Côte d’Ivoire’s economy has remained resilient in the face of the pandemic due to the Ivorian authorities’ swift and well-designed policy responses

An International Monetary Fund (IMF) mission, led by Mr. Luca Antonio Ricci, conducted the 2022 Article IV consultation discussions with the authorities during April 5 ‒15. At the conclusion of the mission, Mr. Ricci made the following statement: “Côte d’Ivoire’s economy has remained resilient in the face of the pandemic…

Source: International Monetary Fund (IMF) |

IMF Management Completes First Review of the Staff Monitored Program Central African Republic

Fiscal policy centers on the sustainable financing of additional high-priority social spending and investments

IMF Management has approved the first review of the Staff-Monitored Program (SMP) with the Central African Republic. The SMP aims to improve the track record of policy implementation and unlock budget support from donors. Its satisfactory implementation and financing assurances from donors would permit the resumption of discussions under the…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Rwanda

The National Bank of Rwanda (BNR) should stand ready to take appropriate actions calibrated to evolving domestic and external economic conditions

IMF staff had productive discussions with the Rwandan authorities on policies to complete the sixth review under the Policy Coordination Instrument (PCI); The Rwandan economy managed the COVID-19 pandemic well registering growth of 10.9 percent in 2021, but the outlook is clouded by the impact of the war in Ukraine…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Chad

The new 36-month ECF arrangement, in an amount of SDR 392.56 million will help meet Chad’s large balance-of-payments and budgetary needs

The Chadian authorities and the staff of the International Monetary Fund (IMF) started discussions for the first review under the ECF-supported program approved on December 10. These discussions will continue in the coming days. Chad’s economic and financial situation was weaker than expected in 2021. Oil production was significantly lower…

Source: International Monetary Fund (IMF) |

IMF Staff Statement on Tunisia

Tunisia is facing major structural challenges that result in deep macroeconomic disequilibria

An International Monetary Fund (IMF) mission visiting Tunis March 23–25 had constructive discussions on the Tunisian authorities’ reform program. The discussions also covered the impact of the war in Ukraine, which poses important challenges for the entire world and for Tunisia, right at the moment that the country is emerging…

Source: International Monetary Fund (IMF) |

IMF Staff and Republic of South Sudan Hold Discussions on Second Review of Staff Monitored Program and Article IV Consultation

The Staff Monitored Program (SMP) has underpinned key monetary and exchange rate reforms

South Sudan faces unprecedented challenges owing to the pandemic, rising international fuel and food prices from the war in Ukraine, and three consecutive years of extensive floods; The Staff Monitored Program (SMP) has underpinned key monetary and exchange rate reforms and seeks to support macroeconomic stability and reinforce fiscal discipline…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2022 Article IV Consultation with Zimbabwe

Executive Directors welcomed the positive signs of economic recovery following two years of deep recession

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation with Zimbabwe on March 21, 2022. Zimbabwe experienced severe exogenous shocks (cyclone Idai, protracted drought, and the COVID-19 pandemic) during 2019-20, which along with policy missteps in 2019, led to a deep recession and high inflation. Real…