Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Approves US$118.2 Million Rapid Credit Facility Assistance to the Republic of Mozambique in the Wake of Cyclone Idai

The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai

The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai, which caused significant loss of life and infrastructure damage; The authorities remain committed to macroeconomic stability, which will also be underpinned by the IMF’s financing. The Executive Board of the…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff Level Agreement on the Fifth Review of Tunisia’s Reform Program Supported by the Extended Fund Facility Arrangement

The IMF team and the Tunisian authorities have reached a staff-level agreement on the Fifth Review of the country’s economic reform program supported by the IMF’s EFF arrangement

A staff-level agreement was reached between IMF staff and the Tunisian authorities on the Fifth review of Tunisia’s economic reform program supported by the Extended Fund Facility arrangement; The authorities and IMF staff agreed on policy and reform steps to ensure that the budget deficit target of 3.9 percent of…

Source: International Monetary Fund (IMF) |

African Consultative Group Meeting: Statement by the Chairman of the African Caucus and the Managing Director of the International Monetary Fund (IMF)

The economic recovery in Africa is expected to continue

Minister Kenneth Ofori-Atta, Chairman of the African Caucus, and Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), co-chaired the African Consultative Group meeting today at the IMF Headquarters. [1] They issued the following statement after the conclusion of the Group’s meeting in Washington D.C.: “We had very…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission for a Staff-Monitored Program to Zimbabwe

IMF staff and the Zimbabwean authorities have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Program

IMF staff and the Zimbabwean authorities have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Program; the SMP aims to implement a coherent set of policies that can facilitate a return to macroeconomic stability. A team from the International Monetary Fund (IMF), led by…

Source: International Monetary Fund (IMF) |

Statement at the end of an International Monetary Fund (IMF) Staff Review Mission to Tunisia

The authorities are aware of the risks weighing on the economy and are committed to containing fiscal and external imbalances in this election year

The Tunisian authorities and IMF staff have reached mutual understandings on most issues and agree that the authorities need some more time to fully flesh out their policy proposals in a few areas. Discussions will continue in Washington, DC, over the coming days; the authorities’ efforts to support growth by…

Source: International Monetary Fund (IMF) |

Statement by the International Monetary Fund (IMF) Managing Director on Egypt

The economy continues to grow robustly, unemployment is at its lowest level since 2011

Following a meeting with President Abdel Fattah El Sisi in Washington today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund, made the following statement: “President El Sisi and I discussed progress under Egypt’s economic reform program supported by the IMF’s US$12 billion Extended Fund Facility. The program has…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Program Negotiation Mission to São Tomé and Príncipe

Significant progress was made in the discussions on the economic policies and reforms that could be supported by a new IMF arrangement

São Tomé and Príncipe’s economy is experiencing strong imbalances and slower growth; Reversing large deficit spending of 2018 and implementing comprehensive structural reforms in energy and tourism sectors are needed to unleash the growth potential; Significant progress was made in the discussions on the economic policies and reforms that could…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to Chad

Significant progress was made in discussions with the authorities on economic and financial policies that could support completion of the fourth program review

Performance in implementing the government’s program supported by the IMF under the Extended Credit Facility (ECF) was satisfactory; Significant progress was made in discussions with the authorities on economic and financial policies that could support completion of the fourth program review; After three years of sharp contraction, non-oil economic activity…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Mission to Côte d’Ivoire

Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand

The authorities and the IMF team have reached a staff-level agreement on the fifth review of the ECF and EFF arrangements, subject to approval by IMF management and the Executive Board; Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand. Inflation remained subdued…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to Cabo Verde

Cabo Verde’s external position strengthened in 2018 with the current account deficit narrowing to 4.5 percent of GDP

Fiscal consolidation efforts should continue to preserve gains made in recent years in strengthening public finances, and to support medium-term debt sustainability; continued progress in State-owned enterprises reforms is critical to reduce fiscal risks, support medium-term debt sustainability and economic growth. In this context, the recent privatization of the national…