Source: International Monetary Fund (IMF) |

The International Monetary and Financial Committee Selects South African Reserve Bank Governor Lesetja Kganyago as New Chairman

Mr. Kganyago has been the Governor of the South African Reserve Bank since November 2014

The members of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the Board of Governors of the International Monetary Fund (IMF), have selected Mr. Lesetja Kganyago, Governor of the South African Reserve Bank, as Chairman of the Committee for a term of three years, effective January…

Source: International Monetary Fund (IMF) |

The International Monetary Fund Executive Board Concludes 2017 Article IV Consultation with the Federal Democratic Republic of Ethiopia

Growth is expected to stay high in 2017/18, at 8.5 percent, supported by continued recovery from droughts and export expansion as new manufacturing facilities and infrastructure come online

On January 12, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with the Federal Democratic Republic of Ethiopia. Ethiopia has recorded annual average GDP growth of about ten percent in the last decade, driven by public investments in agriculture and infrastructure. The poverty…

Source: International Monetary Fund (IMF) |

International Monetary Fund Executive Board Completes Seventh PSI Review for Tanzania

Although GDP data point to continued strong growth, other high frequency data suggest a weakening of economic activity

Macroeconomic performance under the program has been satisfactory. Most quantitative targets were met, though implementation of structural measures lagged. Authorities should step up budget implementation, particularly in development spending, and macroeconomic policies will need to be closely coordinated.  On January 10, 2018, the Executive Board of the International Monetary Fund…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2018 Article IV Mission to Nigeria

Economic activity expanded by 1.4 percent year-on-year in the third quarter of 2017—the second consecutive quarter of positive growth after five quarters of recession

Nigeria is exiting the recession but the economy remains vulnerable. Welcome actions to improve the power sector and business environment under the Economic Recovery and Growth Plan. Macroeconomic and structural reforms remain urgent to contain vulnerability and support sustainable private sector led growth. An International Monetary Fund (IMF) staff team…

Source: International Monetary Fund (IMF) |

IMF Executive Completes First Review of the Extended Arrangement Under the Extended Fund Facility with Gabon and Approves US$ 101.1 Million Disbursement

This brings total disbursements under the arrangement so far to SDR 142.860 million

IMF Executive Board completes the first review of Gabon’s Extended Arrangement under the Extended Fund Facility arrangement, which enables the disbursement of about US$ 101.1 million. Gabon’s economic situation continues to be difficult, but there are signs that the country is coming out of the trough of the downturn. Fiscal…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Review of Niger’s Extended Credit Facility Arrangement and Approves US$19.9 Million

Growth is expected to reach 5.2 percent in 2017, mainly on the back of strengthening hydrocarbon and services sectors, and robust credit growth

On December 15, 2017, the Executive Board of the International Monetary Fund (IMF) completed the first review of Niger’s economic performance under the program supported by the Extended Credit Facility (ECF) arrangement, and considered and endorsed the staff appraisal without a meeting.[1] Despite security challenges and unfavorable commodity prices, economic…

Source: International Monetary Fund (IMF) |

Senegal - IMF Executive Board Completes Fifth Review Under the Policy Support Instrument (PSI)

Growth is expected to exceed 6 percent in 2017 for the third year in a row, while inflation remains low

The Executive Board of the International Monetary Fund (IMF) completed the fifth review of Senegal’s economic performance under a program supported by the Policy Support Instrument (PSI). 1 The PSI supports the authorities’ macroeconomic reforms designed to advance the Plan Sénégal Emergent (PSE), the authorities’ strategy to increase growth and reduce poverty while preserving…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Tanzania

Preliminary data for the first half of 2017 released by the authorities indicate that the economy grew at a still strong 6.8 percent

Macroeconomic performance under the program has been satisfactory. Discussions on key elements that could underpin a successor arrangement made progress. GDP statistics show continued strong growth in the first half of 2017, but other economic indicators suggest the economy may be slowing down. A team from the International Monetary Fund…

Source: International Monetary Fund (IMF) |

The International Monetary Fund Executive Board Completes Fourth Review Under the Extended Credit Facility Arrangement, Approves US$ 4.3 Million Disbursement, and Concludes 2017 Article IV Consultation with Guinea-Bissau

The ECF-supported program aims to restore macroeconomic stability, promote efficiency in public service delivery, and foster inclusive growth

Completion of the fourth ECF review enables the disbursement of SDR 3.03 million (about US$ 4.3 million). The ECF-supported program aims to restore macroeconomic stability, promote efficiency in public service delivery, and foster inclusive growth. The Executive Board also concluded the 2017 Article IV Consultation with Guinea-Bissau. The Executive Board…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Second Reviews of the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) Arrangements for Côte d’Ivoire and Approves US$136.5 Million Disbursement

Real GDP growth is expected to stay above 7 percent in 2017-19, with broadly balanced risks to the outlook

On December 8, 2017, the Executive Board of the International Monetary Fund (IMF) completed the second reviews of Côte d’Ivoire program supported by the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF). The decision was taken without a Board meeting [1] and enables the disbursement of SDR 96.786 million…