Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Approves US$1.3 Billion under the Resilience and Sustainability Facility for Cote d’Ivoire

The RSF arrangement will support the reforms of the Ivorian authorities to strengthen adaptation and mitigation, particularly in the areas of agriculture, transport, infrastructure, and public financial management

The IMF Executive Board approved a 30-month RSF arrangement for Côte d’Ivoire for a total amount of SDR975.6 million (approximately US$1.3 billion); Côte d’Ivoire is exposed and vulnerable to climate change. Rising temperatures, rainfall disruptions, flooding, rising sea levels and coastal erosion are major challenges and represent recurring risks for…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Guinea Bissau on Fourth and Fifth Reviews of Extended Credit Facility Arrangement

Conclusion of the Fourth and Fifth Reviews by the IMF Executive Board, tentatively scheduled for mid-May 2024, would enable the disbursement of SDR 6.17 million (about US$ 8.2 million), bringing total disbursement under the arrangement to SDR 19.44 million

A team from the International Monetary Fund (IMF) led by Jose Gijon, Mission Chief for Guinea Bissau, held videoconferences and meetings in Bissau during February 28– March 11, 2024, to discuss macroeconomic policies in the context of the Fourth and Fifth Reviews of the ECF arrangement [[1]]. The initial arrangement was…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes 2024 Article IV mission to Gabon

An International Monetary Fund (IMF) team, led by Ms. Aliona Cebotari, visited Gabon on January 23-February 6, 2024, to meet with the authorities and private sector representatives for the 2024 Article IV consultation

The 2024 Article IV consultation focused on the near-term challenges facing Gabon: strengthening transparency and governance, revitalizing economic growth and stabilizing the budgetary position; The economy has recovered from multiple shocks emanating from the global and domestic economy, with growth expected to settle around 3 percent in 2024-25 and inflation to…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2024 Article IV Mission to Zimbabwe

The mission discussions covered policies to restore macroeconomic stability and improve growth prospects, focusing on finalizing the transfer of the RBZ’s quasi-fiscal operations to the Treasury and addressing other sources of fiscal pressures

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. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Malawi

The discussions focused on recent macroeconomic developments and the implementation of macroeconomic adjustment and reforms committed under the Extended Credit Facility (ECF) arrangement approved on November 15, 2023

An International Monetary Fund (IMF) staff team led by Ms. Mika Saito visited Malawi during January 22-26 as part of its regular engagement with the Malawian authorities and other stakeholders. The discussions focused on recent macroeconomic developments and the implementation of macroeconomic adjustment and reforms committed under the Extended Credit…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2023 Article IV Mission to Djibouti

Staff projects that the recovery will continue in 2024, albeit at a lower pace, and subject to significant risks stemming from the situation in the Red Sea and developments in Ethiopia

Strong rebound in activity in 2023 but regional geopolitical developments pose important risks to continued recovery; Finalizing the preliminary agreement on debt reprofiling with the main creditor would open a window of opportunity for the authorities to develop a sustainable strategy for public finances in the medium term; Concerted action…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Conducted Discussions for the First Review under the Extended Credit Facility Arrangement with Burundi

Discussions covered recent macroeconomic and policy developments, program performance, and near-term prospects and policy plans

A stronger economic recovery is projected for 2024, with real GDP expanding by 4.3 percent driven by agricultural production, investment, and reforms; rebounding from the estimated 2.7 percent growth in 2023; Recently-adopted policy adjustment measures, including fiscal consolidation under the revised 2023/24 budget (July—June), monetary policy (MP) tightening, and foreign exchange…

Source: International Monetary Fund (IMF) |

Strengthening Macro-fiscal and Budgeting Functions in Southern Africa

The event was organized by the IMF’s Regional Technical Assistance Center for Southern Africa (AFRITAC South)

Being a budget director, or the head of a macro-fiscal unit (MFU) of a ministry of finance, is a demanding job. So, it was an impressive combination of logistical ingenuity and good timing that brought together heads of budget and macro-fiscal functions from 11 Southern African countries for a regional…

Source: International Monetary Fund (IMF) |

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

The Executive Board of the International Monetary Fund (IMF) completed the Third Review under Mozambique’s three-year Extended Credit Facility (ECF) arrangement

The IMF Executive Board completed the Third Review under the Extended Credit Facility (ECF) Arrangement for Mozambique, providing the country with access to SDR 45.44 million (about US$60.7 million); The three-year ECF arrangement aims to support Mozambique’s economic recovery and reduce public debt and financing vulnerabilities, while fostering higher and more…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission to South Sudan for the 2023 Article IV Consultation and Review of Program Monitoring with Board Involvement

The Article IV consultations focused on medium-term policies to address fragility relating to increasing fiscal space, enhancing transparency, and improving public financial management (PFM)

The South Sudanese authorities are facing multiple challenges including significant spillovers from the conflict in neighboring Sudan, protracted flooding, declining humanitarian assistance, the incorporation of newly constituted security forces into the payroll, and the need to finance elections planned for 2024; Macroeconomic policies have remained broadly oriented towards stability. In…