Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Third Review Under the Extended Fund Facility for Seychelles

Seychelles’ economic recovery has remained very strong in 2022, fueled by a faster-than-expected rebound of the tourism sector

The strong recovery of the Seychellois economy has continued in 2022, led by a rebounding tourism sector. Growth is uneven across other sectors of the economy. The government has made significant progress in restoring macroeconomic balances and performance under the EFF program is strong. Maintaining the buildup of buffers against…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff to Visit Ghana

The IMF remains fully committed to help Ghana restore macroeconomic stability

An International Monetary Fund (IMF) staff team, led by Stéphane Roudet, mission chief for Ghana, will visit Accra from December 1–13 to continue discussions with the authorities on the country’s post-COVID program for economic growth and associated policies and reforms that could be supported by a new IMF lending arrangement.…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2022 Article IV Mission to and Reaches Staff-Level Agreement with Guinea on Financial Assistance through the Food Shock Window under the Rapid Credit Facility

This emergency financing will help Guinea address its urgent balance of payments needs related to the global food crisis

Guinea has reached a staff-level agreement to receive up to $69 million (25 percent of Guinea’s IMF quota) in emergency financing through the IMF’s new Food Shock Window under the Rapid Credit Facility; This emergency financing will help Guinea address its urgent balance of payments needs related to the global…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with the Republic of South Sudan on the Third Review of the Staff-Monitored Program, a Rapid Credit Facility through the Food Shock Window and Program Monitoring with Board Involvement

This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves

IMF staff and the South Sudanese authorities have reached a staff-level agreement for about US$112.7 million in emergency financing through the IMF’s new Food Shock Window of the Rapid Credit Facility combined with a Program Monitoring with Board Involvement; This emergency financing under the new Food Shock Window will help…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Concludes the First Review under the Extended Credit Facility Arrangement for the Republic of Mozambique

The Board also completed the financing assurances review and approved the authorities’ request for modification of conditionality

The IMF Executive Board completed the first review under the Extended Credit Facility (ECF) arrangement for Mozambique, providing the country with access to SDR 45.44 million (about US$59.26 million); The three-year ECF arrangement aims to support the economic recovery, reduce public debt and financing vulnerabilities, and foster higher and more…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reach Staff-Level Agreement with the Democratic Republic of the Congo on the Third Review Under the Extended Credit Facility

The Congolese authorities and the IMF team reached staff-level agreement on policies for the completion of the third review under the ECF arrangement

The IMF team reached staff-level agreement on the third review of the authorities’ economic reform program supported by the Extended Credit Facility (ECF) arrangement; Despite recurrent external shocks and increasing inflation, the post-covid recovery continues to build momentum, with 2022 growth expected at 6.6 percent; Amidst high uncertainty, prudent policies…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Mission to Senegal

The mission made significant progress in the discussions on policies and reforms

An International Monetary Fund (IMF) mission, led by Mr. Edward Gemayel, visited Senegal during November 4-15, 2022, to conduct the sixth and final review under the Policy Coordination Instrument (PCI) and the third and final reviews under the Stand-By Credit Facility (SCF) and Stand-By-Arrangement (SBA). The IMF mission met with…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility for Niger and Conducts the 2022 Article IV Consultation

An International Monetary Fund (IMF) staff team led by Mr. Antonio David held meetings from October 5 to November 2, 2022

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the second review of Niger's economic program under the Extended Credit Facility (ECF); Economic activity is expected to recover this year, should keep momentum in 2023, and accelerate over the medium-term, driven by higher oil production…

Source: International Monetary Fund (IMF) |

Egypt: International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Fund Facility Arrangement

An International Monetary Fund (IMF) team held meetings to finalize discussions on IMF support for Egypt and the authorities’ comprehensive economic reform program

International Monetary Fund (IMF) staff and the Egyptian authorities have reached a staff-level agreement on comprehensive economic policies and reforms to be supported by a 46-month Extended Fund Facility (EFF) Arrangement of US$3 billion; The new EFF aims to safeguard macroeconomic stability and debt sustainability, improve Egypt’s resilience to external…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Staff-Level Agreement on the Fourth Review of the Extended Credit Facility for Somalia and Conducts the 2022 Article IV Consultation

The government continues to mobilize external funding and coordinate with the UN system on delivery of humanitarian assistance

Somalia is facing a severe food crisis. The government continues to mobilize external funding and coordinate with the UN system on delivery of humanitarian assistance. Continued support from international partners is imperative to prevent extreme hunger; despite these challenges program performance has been satisfactory, and the reform momentum has been…