Source: International Monetary Fund (IMF) |

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) |

Eritrea: International Monetary Fund (IMF) Staff completes 2019 Article IV Mission

Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy

The peace agreement with Ethiopia and lifting of international sanctions provide a welcome opportunity for Eritrea to build an impetus for economic development; Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy; the IMF stands ready to support economic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Review Mission to Benin

Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity

Performance under the IMF-supported program was satisfactory in 2018; Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity; the authorities should pursue their efforts to improve the business environment and infrastructure, strengthen the governance framework, diversify the economy, promote high-quality education and health,…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes 2019 Article IV visit to Zambia

Zambia’s development strategy targeting a rapid scaling up in infrastructure spending has resulted in large fiscal deficits, financed by nonconcessional debt

IMF staff and Zambian authorities took stock of recent economic developments and the future outlook and prospects as part of the 2019 Article IV consultation; large fiscal deficits and rising debt service have resulted in domestic expenditure arrears, taking a toll on growth; discussions focused on policy options to lower debt-related…

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) |

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) |

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…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes 2019 Discussions with the West African Economic and Monetary Union on Common Policies for Member Countries

Fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3 percent of GDP in 2017

Inflation has remained low reflecting the peg to the Euro, but also continued solid agricultural production and the limited passthrough of higher world oil prices; fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff concludes visit to Guinea-Bissau

Achieving budget targets will require tight expenditure control

Economic performance in 2018 suffered from lower cashew income and weak domestic revenue mobilization; the draft budget for 2019 targets increased government revenue and a deficit below 3 percent of GDP; achieving budget targets will require tight expenditure control. An International Monetary Fund (IMF) team led by Tobias Rasmussen visited…