Source: International Monetary Fund (IMF) |

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) |

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) |

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) |

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) |

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) |

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) |

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) |

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…

Source: International Monetary Fund (IMF) |

Coronavirus - Ivory Coast: International Monetary Fund (IMF) Executive Board approves a US$886.2 million disbursement to Côte d’Ivoire to address the COVID-19 Pandemic

The economic impact of the COVID-19 pandemic is likely to be substantial, with the near-term outlook deteriorating quickly

The IMF approves the disbursement of US$886.2 million to Côte d’Ivoire to be drawn under the Rapid Credit Facility and the Rapid Financing Instrument; the economic impact of the COVID-19 pandemic is likely to be substantial, with the near-term outlook deteriorating quickly; the authorities’ policy response to the pandemic has…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Statement at the end of a Staff Visit to Chad

An International Monetary Fund (IMF) mission led by Edward Gemayel visited N’Djamena during February 6-12

The economy continues to recover, and the outlook remains broadly positive, though subject to some challenges; Fiscal performance is on-track but spending pressures are starting to emerge. An International Monetary Fund (IMF) mission led by Edward Gemayel visited N’Djamena during February 6-12 to take stock of the latest economic and…