Source: International Monetary Fund (IMF) |

Coronavirus - Mauritania: International Monetary Fund (IMF) Executive Board completes Fifth Review Under the Extended Credit Facility Arrangement for the Islamic Republic of Mauritania, approves Augmentation and US$52 Million Disbursement

The IMF’s support will provide additional resources to mitigate the pandemic’s socio-economic impact and continue with institutional reforms to foster an inclusive recovery

The COVID-19 pandemic continues to impose severe health, social, and economic hardships in Mauritania, with a 3.2 percent contraction of output expected in 2020; the authorities have responded swiftly to the shock with measures to contain the pandemic and alleviate its economic fallout. They are prioritizing health spending and targeted…

Source: International Monetary Fund (IMF) |

Coronavirus - Eswatini: IMF Executive Board Approves US$110.4 Million in Emergency Support to The Kingdom of Eswatini to Address The COVID-19 Pandemic

The immediate priority is to support public health, vulnerable groups and businesses

The COVID-19 pandemic has magnified Eswatini’s existing economic and social challenges, leading to a sharp decline in growth and large financing needs; The IMF approved US$110.4 million in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19…

Source: International Monetary Fund (IMF) |

Coronavirus - Burundi: International Monetary Fund (IMF) Executive Board Approves US$7.6 Million Debt Relief to the Republic of Burundi Under the Catastrophe Containment and Relief Trust

The pandemic is affecting Burundi through an evolving domestic outbreak and economic spillovers from the global and regional environment

The IMF Executive Board approved debt relief under the Catastrophe Containment and Relief Trust to provide US$ 7.63 million (SDR 5.48 million) over the next 3 months, and potentially up to US$ 24.97 million (SDR 17.96 million) over the next 21 months; IMF debt relief will help free up resources…

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 - Zambia: IMF Staff Completes Virtual Mission to Zambia

Discussions focused on the economic policies needed to respond to the fallout from the COVID-19 pandemic. Discussions will continue on the fiscal stance and policies in order to move forward with the request for Fund support

Discussions centered on the Government of Zambia’s request for emergency support under the Rapid Credit Facility to support the government’s efforts to address the social and macroeconomic impact of the COVID-19 pandemic: The COVID-19 shock has significantly impacted economic prospects—growth this year will be negative, poverty has likely increased, and…

Source: International Monetary Fund (IMF) |

Coronavirus - Chad: International Monetary Fund (IMF) Staff Completes Discussions for an Additional US$68 Million Disbursement to Chad to Address the COVID-19 Pandemic

Chad’s economy has been severely impacted by the twin COVID-19 pandemic and terms of trade shocks

IMF staff completes discussions for a second disbursement under the Rapid Credit Facility (RCF) to help Chad address the economic challenges posed by the COVID-19 pandemic; Chad’s economy has been severely impacted by the twin COVID-19 pandemic and terms of trade shocks; The additional resources under the RCF will help…

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 - Egypt: IMF Executive Board Approves 12-month US$5.2 Billion Stand-By Arrangement for Egypt

Structural reforms will aim to continue strengthening the frameworks for public finances, improve governance and transparency, and reduce barriers to competition to ensure a path towards sustainable and inclusive private sector-led growth

The IMF approved a 12-month Stand-by Arrangement (SBA), with total access of about US$5.2 billion to address balance of payments financing needs arising from the COVID-19. Approval of the SBA enables the immediate disbursement of about US$2 billion; The SBA will support the authorities’ efforts to preserve the macroeconomic achievements…

Source: International Monetary Fund (IMF) |

Coronavirus - Guinea: IMF Executive Board Approves US$148 Million Disbursement to Guinea to address the COVID-19 Pandemic

The IMF approved the disbursement of US$148 million to Guinea under the Rapid Credit Facility (RCF) to address urgent balance of payment and fiscal financing needs stemming from the COVID-19 pandemic

The IMF Executive Board approves the 70th request for emergency financial assistance to help its member countries address the challenges posed by COVID-19;The IMF approved the disbursement of US$148 million to Guinea under the Rapid Credit Facility (RCF) to address urgent balance of payment and fiscal financing needs stemming from…

Source: International Monetary Fund (IMF) |

Coronavirus - Senegal: International Monetary Fund (IMF) Staff completes Review Mission to Senegal

The COVID-19 pandemic has had a significant impact on economic activity, exacerbated by border closures, a curfew, and social distancing

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…