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Source: International Monetary Fund (IMF) | Nov 22, 2023

High-level Generation Equality Africa Regional Meeting concludes with strong commitments on financing for gender equality

Tanzania has committed to the Generation Equality Initiative and made significant progress under the Action Coalition on Economic Rights

Held in Dar es Salaam, Tanzania, the High-level Generation Equality Africa Regional Meeting brought together Ministries of Finance and Ministries of Gender and their technical teams, representing 21 African countries; Officials expressed resolute commitments towards accelerating financing for gender equality, in line with the Generation Equality commitments; Participants underscored the…

Source: International Monetary Fund (IMF) | Nov 20, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Zambia on the Second Review of the Extended Credit Facility

Once the review is approved by IMF Management and completed by the Executive Board, Zambia will have access to about $184 million in financing (SDR 139.9 million)

The Zambian authorities and the IMF team have reached a staff-level agreement on economic policies to conclude the second review of the 38-month Extended Credit Facility-supported program (ECF). Once the review is approved by IMF Management and completed by the Executive Board, Zambia will have access to about $184 million…

Source: International Monetary Fund (IMF) | Nov 20, 2023

International Monetary Fund (IMF) Staff Concludes Visit to Libya

Despite the devastating floods, Libya’s medium-term economic outlook remains positive due to the projected high oil prices

We express our deepest condolences to the people of Libya for the tragic loss of life and widespread devastation caused by flooding in September; The announced central bank reunification has led to welcome improvements in banking supervision and monetary policy coordination. It will also help with moving the reform agenda forward; Libya…

Source: International Monetary Fund (IMF) | Nov 06, 2023

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement with Sierra Leone on the Eighth Review of the Extended Credit Facility

Multiple external shocks and loose macroeconomic policies in recent years contributed to macroeconomic imbalances, including high inflation, a build‑up of debt, and low reserves

IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies to conclude the eighth and final review of the 60-month ECF financed program, releasing about US$20.4 million in financing once the review is formally completed by the IMF Executive Board; External shocks and policy slippages in…

Source: International Monetary Fund (IMF) | Nov 03, 2023

International Monetary Fund (IMF) Staff Reaches Staff-level Agreement with Tanzania on Second Review of the Extended Credit Facility

The arrangement was approved by the IMF Executive Board on July 18, 2022, for a total amount of SDR 795.58 million (US$1.046 billion at that time)

The Tanzanian authorities and IMF staff have reached a staff-level agreement on economic policies to conclude the second review of Tanzania’s 40-month Extended Credit Facility (ECF); The unfavorable global economic environment and shortfalls in rainfall stalled Tanzania’s recovery from the pandemic. External and domestic conditions have put pressure on the…

Source: International Monetary Fund (IMF) | Nov 03, 2023

The International Monetary Fund (IMF) Staff Concludes Visit to the Republic of Congo

Significant progress was made during the mission on discussions on policy measures to address fiscal consolidation and advance key structural reforms

An International Monetary Fund (IMF) mission led by Roland Kpodar visited Brazzaville from October 19 to November 02 to hold discussions under the fourth review of the authorities’ program supported by the IMF Extended Credit Facility (ECF) approved by the IMF Executive Board on January 21, 2022 . At the end of…

Source: International Monetary Fund (IMF) | Nov 02, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Cabo Verde on a Resilience and Sustainability Facility and the Third Review under the Extended Credit Facility Arrangement

The IMF team and the Cabo Verdean authorities reached staff-level agreement on the policies needed to complete the third review under the ECF-supported program as well as on the request to access financial resources from the RSF

The IMF and Cabo Verde authorities reached a staff-level agreement on a request for access under the newly established Resilience and Sustainability Trust (approximately US$ 31.69 million) and the completion of the third review under the 36-month Extended Credit Facility; The authorities are taking important steps to strengthen the economic reform…

Source: International Monetary Fund (IMF) | Nov 02, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New Arrangement under the Extended Credit Facility and Conducts Discussions on the 2023 Article IV Consultation with The Gambia

The staff-level agreement is subject to approval by the IMF Management and Executive Board, which will make available about US$10.9 million

IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies and reforms to be supported by a new 3-year arrangement under the Extended Credit Facility (ECF), with requested access of SDR74.64 million (around US$100 million); The ECF-supported program aims to strengthen economic recovery, tackle inflation, address…

Source: International Monetary Fund (IMF) | Nov 01, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Somalia on a 36-Month Extended Credit Facility Arrangement

Contributions from Somalia’s partners to the Somalia Country Fund are also critical to ensure smooth delivery of IMF technical assistance to support the authorities as they implement the reform agenda

Somalia has maintained strong implementation of wide-ranging reforms to help strengthen key economic and financial policy institutions, which is paving the way for Somalia to reach debt relief at the Heavily Indebted Poor Countries (HIPC) Completion Point in December 2023; Building on this progress, the Somali authorities and IMF staff…

Source: International Monetary Fund (IMF) | Oct 31, 2023

International Monetary Fund (IMF) Team Reached Staff-Level Agreement with the Democratic Republic of the Congo on Fifth Review of the Extended Credit Facility

Growth remains resilient despite a difficult and uncertain environment, but the fiscal position has worsened, and inflation has accelerated

IMF staff and the Democratic Republic of the Congo have reached a staff-level agreement on economic policies to conclude the fifth review of the three-year Extended Credit Facility (ECF) supported program; Growth remains resilient despite a difficult and uncertain environment, but the fiscal position has worsened, and inflation has accelerated;…

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