Source: International Monetary Fund (IMF) |

Statement by IMF African Department Director Abebe Aemro Selassie: Debt Treatment from Chad’s Private Creditors is Crucial to its Economic Recovery

Chad’s economic and financing situation continues to worsen following the combined shocks of the COVID-19 pandemic, oil price decline, climate change, and terrorist attacks

Mr. Abebe Aemro Selassie , Director of the International Monetary Fund’s (IMF) African Department, has issued the following statement on Chad: “Chad’s economic and financing situation continues to worsen following the combined shocks of the COVID-19 pandemic, oil price decline, climate change, and terrorist attacks. IMF staff and the Chadian authorities have…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$567.25 Million in Emergency Support to Tanzania to Address the COVID-19 Pandemic

Tanzania’s economic outlook has deteriorated due to the impact of the COVID-19 pandemic

The COVID-19 outbreak has led to the collapse of the tourism sector and amplified the need for significant financing to tackle the health and economic effects of the pandemic; The IMF approved US$567.25 million in emergency financial assistance under the Rapid Credit Facility and Rapid Financing Instrument to support the authorities’…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Virtual Visit to Togo

An IMF team led by Mr. Jaroslaw Wieczorek, Mission Chief for Togo, held virtual meetings with the Togolese authorities from June 1–18, 2021 to discuss recent economic developments

Discussions were focused on measures to support the ongoing response to COVID-19, efforts to strengthen the nascent economic recovery, the need for reforms to foster inclusive and sustainable private sector-led growth; The Togolese authorities have expressed their interest in support under the Extended Credit Facility; Discussions are expected to continue…

Source: International Monetary Fund (IMF) |

IMF Executive Board completes first and second reviews of the Central African Republic’s arrangement under the Extended Credit Facility and approves US$ 34.4 Million disbursement

The Covid-19 pandemic has had a substantial impact on Central African Republic’s economy but appears now somewhat contained

The Executive Board of the International Monetary Fund (IMF) completed the first and second reviews of the Central African Republic’s (CAR) economic and financial program supported by an Extended Credit Facility (ECF) arrangement. Completion of the reviews enables the disbursement of SDR 23.87 million, about US$ 34.4million), bringing total disbursements under…

Source: International Monetary Fund (IMF) |

Mali: International Monetary Fund (IMF) Executive Board extends Immediate Debt Service Relief for another Six Months

Relief on debt service will free up scarce financial resources to continue strengthening the country’s medical care capacity and addressing the social and economic fallout from the COVID-19

On October 30, 2020, the Executive Board of the International Monetary Fund (IMF) approved a second six-month tranche of debt service relief for Mali under the Catastrophe Containment and Relief Trust (CCRT) without a meeting; the relief on debt service will free up scarce financial resources to continue strengthening the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Review Mission to Central African Republic

Welcomes the progress made in the fight against the Covid-19 pandemic

The IMF team welcomes the progress made in the fight against the Covid-19 pandemic and the preparation of next December’s presidential and legislative elections; the pandemic and the containment measures have had a significant impact on growth, inflation, and public finances; the Central African authorities and the IMF team discussed…

Source: International Monetary Fund (IMF) |

Opening Remarks at Mobilizing with Africa II High-Level Virtual Event

We are here today because COVID-19 continues its assault on the health and wellbeing of people, and on the economy

By Managing Director Kristalina Georgieva As prepared for delivery Excellencies, Ministers, Ladies and Gentlemen—thank you for participating in this important event. I am honored to co-host with President Malpass. And I would like to recognize U.N. Secretary General Guterres and AU Commission Chair Moussa Faki Mahamat. We are here today…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Review Mission to Côte d’Ivoire

The country has been hit hard by the Covid-19 pandemic

The authorities and the IMF team have reached a staff-level agreement on the combined seventh and eighth reviews of the ECF and EFF arrangements, subject to approval by IMF management and the Executive Board; the country has been hit hard by the Covid-19 pandemic; thanks to the authorities’ swift response…

Source: International Monetary Fund (IMF) |

Coronavirus - Malawi: IMF Executive Board Approves an Additional US$101.96 Million Disbursement under the Rapid Credit Facility for Malawi to Address the COVID-19 Pandemic

This additional IMF financing will help fill part of the resulting increased external financing gap and provide the fiscal space needed to address critical spending needs

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to Malawi to US$193 million; Malawi’s economic outlook has worsened since the first RCF as COVID infections have risen and the global and regional economic situation has deteriorated; This additional IMF financing…

Source: International Monetary Fund (IMF) |

Coronavirus: International Monetary Fund (IMF) Staff issues an Interim Performance Update to the Board on Rwanda’s Policy Coordination Instrument (PCI)

COVID-19 pandemic has had a severe economic impact on Rwanda through implementation of strict domestic measures to contain the spread of virus and related global spillovers

All end-December 2019 quantitative targets for the second review under the PCI [1] were met and performance on the reform targets was broadly on track; the heavy toll of the COVID-19 pandemic has pushed the fiscal targets for end-June 2020 out of reach and hampered progress in advancing the reform…