International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Feb 08, 2023

International Monetary Fund (IMF) Executive Board Concludes 2022 Article IV Consultation with Nigeria

Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities

On February 6, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Nigeria. Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities. Gross domestic product (GDP) adjusted for inflation has already…

Source: International Monetary Fund (IMF) | Oct 18, 2022

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…

Source: International Monetary Fund (IMF) | Mar 31, 2022

IMF Staff Concludes Visit to Chad

The new 36-month ECF arrangement, in an amount of SDR 392.56 million will help meet Chad’s large balance-of-payments and budgetary needs

The Chadian authorities and the staff of the International Monetary Fund (IMF) started discussions for the first review under the ECF-supported program approved on December 10. These discussions will continue in the coming days. Chad’s economic and financial situation was weaker than expected in 2021. Oil production was significantly lower…

Source: International Monetary Fund (IMF) | Mar 17, 2022

IMF Staff Completes 2022 Article IV Consultation Mission to Burundi

IMF staff held productive discussions with the authorities on the recent economic developments

The Burundian economy recovered moderately in 2021 and is expected to strengthen further in 2022, despite the effects of the war in Ukraine. In the medium term, Burundi will continue to grapple with the challenges of balancing priority social, development and COVID-19-related spending with external and debt sustainability; the current account…

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | Jul 18, 2020

Coronavirus - Senegal: International Monetary Fund (IMF) Executive Board Completes First Review Under the Policy Coordination Instrument for Senegal

The COVID-19 pandemic is taking a heavy toll on Senegal’s economy

The COVID-19 pandemic is taking a heavy toll on the economy with growth projected at 1.1 percent in 2020 compared to 5.3 percent in 2019; The authorities have taken significant actions to contain the pandemic and mitigate its economic fallout, supported by additional financing from Senegal's development partners and participation…

Source: International Monetary Fund (IMF) | Jul 01, 2020

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Staff Completes a Virtual Extended Credit Facility First Review Mission for São Tomé and Príncipe

The COVID-19 pandemic is expected to cause the economy to contract sharply by 6.5 percent this year

The COVID-19 pandemic is expected to cause a sharp real economic contraction of 6.5 percent in 2020 and raise large health and social needs; Program performance under the Extended Credit Facility (ECF) had a good start, but progress has been hampered by the pandemic and some policy slippages prior to…

Source: International Monetary Fund (IMF) | May 07, 2020

Coronavirus: Ethiopia steps up Health Spending with help from International Monetary Fund (IMF) Emergency Assistance

The funding will also support communication on health issues as combating COVID-19 will require a lot of advocacy work to ensure that people stick to prevention recommendations

The IMF has approved $411 million in emergency assistance for Ethiopia to help fight the coronavirus pandemic in the east African country. It also approved Ethiopia’s request for a suspension of debt service payments of about $12 million to the IMF under the IMF's Catastrophe Containment and Relief Trust for…

Source: International Monetary Fund (IMF) | May 06, 2020

Coronavirus - Uganda: International Monetary Fund (IMF) Executive Board approves a US$491.5 Million Disbursement to Uganda to address the COVID-19 Pandemic

The authorities have timely scaled up health spending and put in place bold measures to help contain and mitigate the spread of the disease

The Ugandan economy is severely affected by the COVID-19 pandemic; to address the urgent balance-of-payments and fiscal needs, the IMF approved US$491.5 million emergency assistance for Uganda under the Rapid Credit Facility; the authorities have timely scaled up health spending and put in place bold measures to help contain and…

Source: International Monetary Fund (IMF) | May 02, 2020

Coronavirus – Malawi: International Monetary Fund (IMF) Executive Board Approves a US$91 Million Disbursement under the Rapid Credit Facility for Malawi

The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has deteriorated significantly

The International Monetary Fund approved a disbursement of US$91 million under the Rapid Credit Facility to help Malawi meet the urgent balance of payment (BOP) needs stemming from the COVID-19 pandemic; The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has…

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