Source: International Monetary Fund (IMF) |

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

An International Monetary Fund (IMF) team, led by Mr. Papa N’Diaye, visited Gaborone during November 13-27 to hold discussions for the 2019 Article IV Consultation with Botswana

Growth is expected to slow to about 3½ percent in 2019, due to weaknesses in the diamond market, a severe drought, and slower growth in neighboring countries. In 2020, it is expected to rise to 4.2 percent as the diamond market normalizes and copper production comes into stream; Fiscal consolidation…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Kenya

A staff team from the International Monetary Fund (IMF), led by Benedict Clements, visited Kenya from November 18-22, 2019

Real GDP growth averaged 5.6 percent in the first half of 2019 and is expected to accelerate in the second half of 2019 and 2020; Inflation has remained within the target band and stood at 5.0 percent in October (year-on-year). A staff team from the International Monetary Fund (IMF), led…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) staff completes 2019 Article IV and Second ECF Review Mission to Sierra Leone

While the economy is continuing to recover, the outlook remains challenging and improving the well-being of Sierra Leoneans is an ambitious endeavor

The Sierra Leone authorities and IMF mission concluded discussions, reaching staff-level agreement on economic policies to pave the way for the IMF Executive Board to consider the second review under the ECF‑supported program; while the economy is continuing to recover, the outlook remains challenging and improving the well-being of Sierra…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Rwanda

An International Monetary Fund (IMF) staff team, led by Laure Redifer, visited Kigali during October 31- November 13, 2019

Rwanda continues to make notable progress in sustaining high and inclusive growth; Real GDP growth outpaced expectations, averaging 10.3 percent in the first half of 2019; IMF staff have reached preliminary agreement with the government, subject to approval by its Executive Board, on policies that could support completion of the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Mozambique

The outlook for 2020 is for a strong rebound in economic activity and low inflation

An International Monetary Fund (IMF) staff team led by Ricardo Velloso visited Maputo during November 6–12, 2019, to take stock of recent economic developments and update macroeconomic projections. At the end of the mission, Mr. Velloso issued the following statement: “As a result of Tropical Cyclones Idai and Kenneth, real…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff conclude their 2019 Article IV Consultation Mission and the Fourth and Fifth Reviews of the Extended Fund Facility (EFF) arrangement in Gabon

It was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms

The economy is slowly recovering, but significant challenges still need to be addressed to generate stronger and more inclusive growth; it was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms to improve governance, increase domestic revenue mobilization, enhance the management and effectiveness of public…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Nigeria

An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja

A slow economic recovery is continuing, inflation is falling, and external buffers are declining in the face of increased portfolio outflows; Elevated fiscal deficits rely on central bank financing, which complicates monetary policy; Action on a coherent and coordinated set of policies is urgently needed to reduce vulnerabilities and increase…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit for the Article IV Consultation and Discussions on the First Review of the Staff-Monitored Program to Zimbabwe

The discussions covered recent economic developments, the near and medium-term outlook, risks to the economy, developments in the financial sector, and the set of economic policies

An International Monetary Fund (IMF) mission led by Mr. Gene Leon visited Harare from September 5th to 19th to conduct the Article IV Consultation and review progress under the Zimbabwe’s Staff-Monitored Program (SMP). The discussions covered recent economic developments, the near and medium-term outlook, risks to the economy, developments in the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes First Review under the Staff-Monitored Program for Somalia

The IMF team and the Somali authorities reached a staff-level agreement on the completion of the first review

Somali authorities and IMF staff reach a staff-level agreement on the completion of the first review of the fourth Staff-Monitored Program (SMP IV); authorities’ continued strong commitment to economic and financial reform is supporting satisfactory performance under SMP IV. An International Monetary Fund (IMF) staff team led by Allison Holland visited…

Source: International Monetary Fund (IMF) |

Statement at the End of an International Monetary Fund (IMF) Staff Visit to Malawi

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for Malawi, visited Lilongwe from September 10-17, 2019

Malawi’s recent economic performance has been favorable despite the impact of Cyclone Idai; Economic growth is expected to strengthen to about 4.5 percent in 2019 supported by a rebound in agriculture in most of the country and reconstruction of infrastructure damaged by the cyclone; Inflation is expected to remain in…