Source: International Monetary Fund (IMF) |

IMF Team Completes Staff Visit to Angola

An International Monetary Fund (IMF) team led by Ricardo Velloso visited Luanda during November 6-15, 2017, to prepare the groundwork for the Article IV consultation mission expected in early 2018

The Angolan economy is enjoying a mild recovery this year but significant macroeconomic imbalances remain. The new Government is fully aware of the imbalances and has approved a plan to begin addressing these challenges. An International Monetary Fund (IMF) team led by Ricardo Velloso visited Luanda during November 6-15, 2017,…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Seventh and Eighth ECF Reviews for Liberia and Approves US$20.7 Million Disbursement

Recourse to external borrowing should remain restrained as the risk of debt distress is already elevated

Completion of the reviews enables the immediate disbursement of SDR 14.764 million (about US$20.7 million), bringing total disbursements under the arrangement to SDR 111.664 million (about US$156.3 million). Good progress has been made on structural reforms, and it would be important that this momentum is maintained beyond the expiration of…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Review Visit to the Central African Republic

IMF staff team and authorities reached broad agreement on policies which could form the basis for completing the third review. Restoration of peace, redeployment of the state, and implementation of reforms will be key to ensure sustainable economic recovery. The team encouraged the authorities to intensify revenue mobilization efforts, while…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Mission to Côte d’Ivoire

Fiscal deficit is expected to decrease to 3.75 percent of GDP in 2018 and eventually converge to the WAEMU regional deficit norm of 3 percent of GDP by 2019

Staff-level agreement was reached with the authorities on the second review under ECF and EFF arrangements, subject to approval by IMF management and the Executive Board. Despite the fall in cacao prices, strong economic performance continued in 2017 and the medium-term outlook remains strong. Fiscal deficit is expected to decrease…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV and ECF Review Mission to Guinea-Bissau

Real GDP growth for 2017 is now projected at 5.5 percent, with inflation around 2 percent and a broadly balanced external current account

The government’s economic program supported by the IMF is broadly on-track and the mission was able to reach understandings, ad referendum, on policies needed to conclude the fourth ECF review. The discussions in the context of Article IV consultation focused on key medium-term priorities, including actions to durably reinforce public…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Sierra Leone

The current account deficit is expected to widen to 21.5 percent of GDP

Mission and authorities reached a common understanding of the challenges and risks associated with macroeconomic performance for the rest of 2017 and have made some progress in discussions on how to address those. Discussions aimed at completing the review will continue in the coming weeks, including during the upcoming Annual…

Source: International Monetary Fund (IMF) |

Rwanda Implements the IMF’s Enhanced General Data Dissemination System

This marks the culmination of recent efforts by the principal statistical agencies working together to publish the data recommended under the International Monetary Fund’s (IMF) enhanced General Data Dissemination System (e-GDDS), while utilizing the Statistical Data and Metadata Exchange

On September 22, 2017, the authorities of Rwanda began publishing important macroeconomic data on the website of the National Institute of Statistics—the National Summary Data Page (NSDP). This marks the culmination of recent efforts by the principal statistical agencies working together to publish the data recommended under the International Monetary…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to Review Progress of Madagascar’s Economic Program

Performance under the ECF-supported program remains strong

Economic growth is projected at 4.1 percent in 2017. Performance under the ECF-supported program remains strong. Prudent monetary policy has helped to contain inflation. A team from the International Monetary Fund (IMF) led by Marshall Mills, Mission Chief for Madagascar, visited Antananarivo from September 7–21, 2017 to hold discussions on…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2017 Article IV Consultation with the Kingdom of Swaziland

On September 1, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Swaziland. Since the 2010 fiscal crisis, Swaziland has experienced a period of macroeconomic stability and recovery. A rebound in South African Customs Union (SACU) revenues, expansionary policies…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Fourth Review Under the ECF, Approves US$94.2 Million Disbursement and Program Extension, and Concludes 2017 Article IV Consultation with Ghana

Completion of the fourth ECF review enables the disbursement of SDR 66.42 million (about US$ 94.2 million). The program aims to restore debt sustainability and macroeconomic stability in the country to foster a return to high growth and job creation, while protecting social spending. The Executive Board also completed the…