Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2024 Article IV Mission to Botswana

Botswana’s economic growth decelerated from 5.5 percent in 2022 to 2.7 percent in 2023, below the long-run potential growth of 4 percent

Botswana’s economic growth is expected to slow to 1 percent in 2024, primarily because of a diamond market contraction; Inflation has declined sharply since the peak of mid-2022 and returned to the central bank’s objective range of 3 – 6 percent, where it is expected to remain in the medium term.…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Guinea Bissau on Sixth Review of Extended Credit Facility Arrangement

The initial arrangement was approved by the IMF Executive Board for a total amount of SDR 28.4 million (about US$ 37.3 million)

The IMF and Guinea Bissau have reached staff-level agreement on economic policies that could support the sixth review of the Extended Credit Facility (ECF). Once the review is approved by IMF Management and completed by the IMF Executive Board, Guinea Bissau will have access to about US$ 7.2 million; The…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) and Niger Reach Staff-Level Agreement on the Fourth and Fifth Reviews of the Extended Credit Facility and The First Review under the Resilience and Sustainability Facility

The economic outlook is promising over the near and medium term, with growth projected at 10.6 percent this year, driven by oil exports and the lifting of sanctions

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the fourth and fifth reviews of Niger's economic program under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF); The economic outlook is promising over the near and medium term,…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Concludes 2024 Article IV Consultation, Mid-Term Review under Flexible Credit Line Arrangement, First Review under the Resilience and Sustainability Facility and Rephasing of Access under Resilience and Sustainability Facility with Morocco

The Moroccan economy continued to show resilience to negative shocks

On March 26, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation,[1] mid-term review under Flexible Credit Line Arrangement, first review under the Resilience and Sustainability Facility and Rephasing of access under Resilience and Sustainability Facility with Morocco. The Moroccan economy continued to show resilience to…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement with Mali on Rapid Credit Facility and Completes 2024 Article IV Mission

Discussions focused on the economic outlook, macroeconomic policies and possible responses to the urgent balance of payments (BOP) needs

IMF staff and the Malian authorities have reached a staff-level agreement on emergency financing through the Exogenous Shock Window of the IMF’s Rapid Credit Facility (RCF). IMF staff also completes the 2024 Article IV mission; Mali’s economy has been hit by multiple exogenous shocks recently, including Russia’s war in Ukraine,…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Mission to Sierra Leone

The discussions continued during the Spring Meetings of the IMF and the World Bank Group in Washington, DC

An IMF team and the Sierra Leonean authorities held discussions on a new arrangement under the Extended Credit Facility; They made substantial progress towards understandings on the authorities’ development objectives and the reforms needed to achieve macroeconomic stability and maintain debt sustainability; Discussions will continue over the coming months. Continued…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Central African Republic on the Second Review of the Extended Credit Facility (ECF)

Despite an extremely challenging economic and social context, Central African Republic (CAR) continues to make headway in stabilizing its economy and in achieving fiscal consolidation

The Central African Republic authorities and Fund staff have reached agreement on the economic policies that may underpin the forthcoming approval by the IMF Executive Board of the second review of the ECF-supported program; Despite an extremely challenging economic and social context, Central African Republic (CAR) continues to make headway in…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility with Ghana

Ghana will have access to about US$360 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board

IMF staff and the Ghanaian authorities have reached staff-level agreement on economic policies and reforms to conclude the second review of the 36-month ECF-supported program. Ghana will have access to about US$360 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Reviews Under the Extended Fund Facility (EFF) Arrangement and the Resilience and Sustainability Facility (RSF) with Seychelles and Completes 2024 Article IV Mission

While the outlook remains positive and risks are roughly balanced, the Seychellois economy remains highly vulnerable to external shocks and climate change in the medium- to long-term

The Seychellois economy continued to recover in 2023 and is moving closer to pre-pandemic norms despite external shocks and a complex disaster from flooding and an industrial explosion; The government made good progress in implementing the EFF and RSF—meeting almost all quantitative targets under the program and making notable progress…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes the First and Second Reviews of Extended Fund Facility Arrangement for Egypt, Approves Augmentation of the Arrangement

The plan is centered on a liberalized foreign exchange system in the context of a flexible exchange rate regime

The IMF Board today completed the First and Second Reviews of the extended arrangement under the Extended Fund Facility (EFF) for Egypt and approved an augmentation of the original program by about US$5 billion (SDR 3.76 billion), allowing the authorities to draw the equivalent of about US$820 million (SDR 618.1…