International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Aug 07, 2019

International Monetary Fund (IMF) Staff completes Program Negotiation Mission to São Tomé and Príncipe

São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth

Significant progress was made in the discussions with the government on the economic policies and reforms that could be supported by a new IMF arrangement; São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth. Improving the business environment to promote economic activities is…

Source: International Monetary Fund (IMF) | Aug 01, 2019

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with Somalia

The Federal Government of Somalia’s (FGS) continued efforts to broaden the tax base and strengthen tax administration has been reflected in increased domestic revenue

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the 2019 Article IV consultation [1] with Somalia. Improved confidence, on the back of the continued implementation of reforms, and strong donor support continue to support economic activity, especially in the telecom, trade, construction, and financial sectors. However, poor…

Source: International Monetary Fund (IMF) | Jul 30, 2019

The Republic of Mozambique Implements the International Monetary Fund’s Enhanced General Data Dissemination System

The Enhanced General Data Dissemination System (e-GDDS) was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development

The Republic of Mozambique has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through the National Summary Data Page (NSDP). The page aims to serve as a one-stop publication vehicle for essential macroeconomic data on the national accounts, government operations and debt,…

Source: International Monetary Fund (IMF) | Jul 25, 2019

International Monetary Fund (IMF) Executive Board Approves US$12.3 Million Rapid Financial Assistance to the Union of Comoros in the Wake of Cyclone Kenneth

These funds will help the authorities address large budgetary and external financing needs arising from the effects of Tropical Cyclone Kenneth

IMF financial assistance will help to address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs after Cyclone Kenneth; The authorities are committed to rebuilding the economy’s productive capacity. To this end, they plan to repair damaged infrastructure and provide support to the poor while maintaining macroeconomic…

Source: International Monetary Fund (IMF) | Jul 25, 2019

Egypt- International Monetary Fund (IMF) Executive Board Completes Fifth Review under the Arrangement under Extended Fund Facility (EFF)

The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion)

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million…

Source: International Monetary Fund (IMF) | Jul 24, 2019

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with the State of Eritrea

Eritrea has recently emerged from a long period of conflict and international sanctions, which together deprived the country of vital investment, trading opportunities and external support

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with the State of Eritrea. Eritrea has recently emerged from a long period of conflict and international sanctions, which together deprived the country of vital investment, trading opportunities and external support, and left…

Source: International Monetary Fund (IMF) | Jul 18, 2019

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with Cabo Verde

Cabo Verde’s macroeconomic situation has improved significantly in recent years, and the outlook is positive despite downside risks

On July 15, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with Cabo Verde. Cabo Verde’s macroeconomic situation has improved significantly in recent years, and the outlook is positive despite downside risks. Economic growth has been robust and is projected at 5 percent for…

Source: International Monetary Fund (IMF) | Jul 18, 2019

IMF Executive Board Completes Fourth Extended Credit Facility (ECF) Review for Cameroon and Approves US$76.2 Million Disbursement

The completion of the review enables the disbursement of SDR 55.2 million (about US$76.2 million)

The Executive Board of the International Monetary Fund (IMF) completed the fourth review of the arrangement under the Extended Credit Facility (ECF) for Cameroon on July 17, 2019. The completion of the review enables the disbursement of SDR 55.2 million (about US$76.2 million), bringing total disbursements under the arrangement to…

Source: International Monetary Fund (IMF) | Jul 17, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Tunisia

An International Monetary Fund (IMF) staff team led by Björn Rother visited Tunis from July 11–17, 2019, to discuss Tunisia’s recent economic developments, outlook and reform program

Tight monetary and fiscal policies during the first half of 2019 have reduced inflation and laid the foundation for a second year of budget deficit reduction; Risks to the economic outlook have increased due to higher oil prices, weaker growth in Tunisia’s trading partners, and an appreciating dinar; Near-term policies…

Source: International Monetary Fund (IMF) | Jul 16, 2019

IMF Executive Board Approves a new Policy Coordination Instrument with Cabo Verde

On July 15, 2019, the Executive Board of the International Monetary Fund (IMF) approved a new Eighteen-Month Policy Coordination Instrument (PCI) with Cabo Verde

A newly-approved eighteen-month Policy Coordination Instrument will build on Cabo Verde’s reform program under the Strategic Plan for Sustainable Development; It aims to bolster macroeconomic stability and encourage structural reforms; Cabo Verde’s macroeconomic situation has improved significantly in recent years and the medium-term outlook is positive. On July 15, 2019,…

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