Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Visit and Reaches Staff-Level Agreement on a Third Staff-Monitored Program with Somalia

For 2018, growth is projected to increase to 3.1 percent from an estimated 2.3 percent in 2017, and inflation is expected to ease to under 3 percent from around 5.2 percent in 2017

The Somali authorities and the IMF reach a staff-level agreement on a new 12-month Staff-Monitored Program (SMP) covering the period May 2018-April 2019 (SMP III). The IMF supports the authorities’ initiative to reach out to donors to mobilize the needed support and funding to launch a new national currency. IMF…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Senegal

The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018

Economic growth has continued to be strong, while inflation has remained low. The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018. Senegal continues to manage its debt carefully. A staff team from the International Monetary Fund (IMF), led by…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on the Fourth Review under the Extended Credit Facility for the Central African Republic

An International Monetary Fund (IMF) team led by Mr. Samir Jahjah held program discussions with the Central African Republic authorities on the fourth review of the program supported by an Extended Credit Facility (ECF)

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The view 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 this…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to The Gambia

Forward-looking discussions focused on economic and financial policy commitments for the remainder of the SMP, which was extended through September 2018 to enable the completion of the program reform agenda

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a 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. This mission will not result in a…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) First Deputy Managing Director David Lipton on Meeting with Egypt’s President

Following a meeting with Egypt’s President Abdel Fattah El Sisi in Cairo today (May 7, 2018), Mr. David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement: “President El Sisi and I discussed Egypt’s economic outlook and progress in Egypt’s reform program supported by…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Burkina Faso

The overall fiscal deficit widened sharply in 2017 to 7.7 percent of GDP, an unprecedented level for Burkina Faso where fiscal deficits in recent years have typically ranged from 2 to 4 percent of GDP

Burkina Faso’s economy expanded by more than 6 percent per year on average during 2016-2017, showing considerable resilience in the face of security and weather-related shocks. The fiscal deficit widened sharply in 2017 because of a substantial increase in spending, mainly on investment, but also on wages and salaries. The…

Source: International Monetary Fund (IMF) |

Inclusive Growth and Job Creation in Egypt

Remarks to the Government of Egypt-IMF Conference: IMF First Deputy Managing Director David Lipton

Thank you for Minister El-Garhy for your kind introduction. I am very happy to be in Cairo, and honored to see that we are joined this evening by such a distinguished group. I would like to thank the Government of Egypt for agreeing to organize this conference with the IMF.…

Source: International Monetary Fund (IMF) |

Launch of the April 2018 International Monetary Fund’s (IMF) Regional Economic Outlook for Sub-Saharan Africa on Tuesday, May 8, 2018

Launch of the April’s 2018 IMF Regional Economic Outlook Report titled, Sub-Saharan Africa: Domestic Revenue Mobilization and Private Investment Where: In Ghana, Movenpick Hotel, Accra In Gabon, Ministry of Economy, Libreville When:Tuesday, May 8, 2018 at 9:45 a.m., local time in Ghana; 9:45 a.m., local time in Gabon Who: Mr.…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on the First Review Under the Extended Credit Facility (ECF) for Guinea

Real growth was above 8 percent in 2017 and it is expected at about 6 percent in 2018

The Guinean economy is growing at a fast pace, driven by a buoyant mining sector. Preserving macroeconomic stability and generating higher and more broad-based growth is needed to improve the living standards of the population and reduce poverty. Strengthening Guinea’s fiscal position is pivotal to maintain stability and medium-term debt…

Source: International Monetary Fund (IMF) |

International Monetary Fund reaches Staff-Level Agreement with Mali on Ninth Review under ECF Arrangement

A team from the International Monetary Fund (IMF), led by Boriana Yontcheva, held discussions with the Malian authorities in Washington DC from April 18–24 2018 on the ninth review of Mali’s economic and financial program supported by the IMF under the Extended Credit Facility (ECF)

Consideration by the IMF’s Executive Board will be combined with the 2018 Article IV and eighth review under the ECF tentatively scheduled for late May 2018. The authorities committed to continue actions that will enable them to achieve program objectives and reduce near- and medium-term vulnerabilities. Inflation is expected to…