Source: International Monetary Fund (IMF) |

IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with Zambia

The Zambian authorities have committed to an ambitious economic reform program to address the severe economic and social challenges facing the country

The IMF team reached a staff-level agreement with the Zambian authorities on a new arrangement under the Extended Credit Facility (ECF) for 2022-2025 to help restore macroeconomic stability and provide the foundation for an inclusive economic recovery.The government’s ambitious reform program, supported by the IMF, seeks to restore fiscal and…

Source: International Monetary Fund (IMF) |

IMF Staff Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with Zambia

The staff-level agreement is subject to IMF Management and Executive Board approval and receipt of the necessary financing assurances

The IMF team reached a staff-level agreement with the Zambian authorities on a new arrangement under the Extended Credit Facility (ECF) for 2022-2025 to help restore macroeconomic stability and provide the foundation for an inclusive economic recovery. An International Monetary Fund (IMF) team led by Allison Holland, Mission Chief for…

Source: International Monetary Fund (IMF) |

IMF Management Completes First Review of the Staff-Monitored Program with Guinea Bissau

Growth has been revised upwards in 2020 and is projected to accelerate to 3¾ percent in 2021

IMF Management has approved the first review of Guinea Bissau’s Staff-Monitored Program (SMP), which supports the government’s program of reforms aimed at supporting macroeconomic stability and debt sustainability, strengthening social policies, and enhancing public governance; The authorities have made satisfactory progress toward establishing a strong track record of policy and…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Article IV Mission to Zimbabwe

An International Monetary Fund (IMF) staff team, led by Dhaneshwar Ghura, Mission Chief for Zimbabwe, held discussions through virtual meetings in the context of the 2021 Article IV consultation

The COVID-19 crisis impacted an already weakened economy following cyclone Idai and a protracted drought. Containment and support measures introduced by the authorities helped in mitigating the adverse effects of the pandemic; economic activity is recovering, and mass vaccination continues steadily. But downside risks remain, dominated by the pandemic’s evolution,…

Source: International Monetary Fund (IMF) |

IMF Management Approves the Completion of the First Review of the Staff-Monitored Program with the Republic of South Sudan

An effective follow-up by the appropriate institutions on the findings of the audit will be essential

IMF staff commends the authorities for implementing key economic reforms supported by the Staff-Monitored Program (SMP) that have stabilized the exchange rate, contributed to a significant decline in inflation, and unified the exchange rates in the market; it will be important to make sustained progress under the SMP, especially by…

Source: International Monetary Fund (IMF) |

IMF Staff and Seychelles Reach Staff-Level Agreement on the First Review Under the Extended Fund Facility (EFF)

September 2021 quantitative targets under the program were met—some, including the fiscal primary balance target, by a wide margin

An International Monetary Fund (IMF) mission led by Boriana Yontcheva carried out a mission from October 23–November 8, 2021 to assess performance at end-September for the first program review under the Extended Fund Facility (EFF) Arrangement with Seychelles. Discussions were hybrid, conducted partly virtually, partly in Victoria. At the end…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff Level Agreement on the Second Reviews of the Extended Fund Facility and Extended Credit Facility for Kenya and Discusses the 2021 Article IV Consultation

Kenya would have access to about US$264 million in financing once the review is formally completed by the IMF Executive Board

IMF staff and the Kenyan authorities have reached a staff-level agreement on economic policies to conclude the second reviews of the 38-month EFF/ECF financed program. Kenya would have access to about US$264 million in financing once the review is formally completed by the IMF Executive Board; Economic rebound continues, building…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2021 Article IV Mission to the Republic of Malawi

Real GDP growth is projected to pick up to 2.2 percent in 2021 from 0.9 percent in 2020, helped by a good harvest

Malawi’s economy has been severely affected by the pandemic and debt burden. While the daily COVID-19 positive cases remain relatively low, recovery is gradual. Real GDP growth is projected to pick up to 2.2 percent in 2021 from 0.9 percent in 2020, helped by a good harvest; Substantial development and…

Source: International Monetary Fund (IMF) |

IMF Management Approves a Staff Monitored Program for the Union of the Comoros

The authorities’ top priority since the pandemic hit has been to limit the impact on the health of the population and preserve macroeconomic and financial stability

The Staff-Monitored Program (SMP) will help to build a strong track record of policy and reform implementation, possibly paving the way for an IMF-supported program; the six-month SMP will support the government’s program of reforms aimed at (i) supporting the recovery from the COVID-19 pandemic including by providing cash transfers…

Source: International Monetary Fund (IMF) |

IMF Team and the Authorities from the Democratic Republic of Congo Reach Staff-Level Agreement on the First Review under the Extended Credit Facility

Authorities remain committed to building reserves to guard against external shocks, improve governance and the business climate, and enhance transparency, including in the mining sector

IMF staff and the authorities have reached a staff-level agreement on the first review under the three-year Extended Credit Facility (ECF) arrangement; Boosting public investment and social spending critically depends on continued efforts to raise revenues, reducing non-priority spending, and ensuring efficient and transparent use of public funds, including the…