International Monetary Fund Staff Concludes Visit to Nigeria

The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term

Higher oil prices and portfolio flows have helped strengthen fiscal and external buffers; The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term; Action on a coherent set of policies to reduce vulnerabilities and increase growth over the medium term remains…

International Monetary Fund (IMF) Completes Second Review of Staff Monitored Program with The Gambia

Economic recovery is well underway and the outlook is favorable, albeit contingent on continued adherence to the policy reform agenda

Economic recovery is well underway with growth estimated at 3.5 percent in 2017. Implementation of the Staff-Monitored Program remains broadly satisfactory. The Gambia’s public debt is unsustainable, with the debt-to-GDP ratio reaching nearly 130 percent of GDP in 2017. On June 18, 2018, the Managing Director of the International Monetary…

Inclusive Growth and Job Creation in Egypt

Remarks to the Government of Egypt-IMF Conference: IMF First Deputy Managing Director David Lipton

Thank you for Minister El-Garhy for your kind introduction. I am very happy to be in Cairo, and honored to see that we are joined this evening by such a distinguished group. I would like to thank the Government of Egypt for agreeing to organize this conference with the IMF.…

Egypt: Time to Entrench Growth and Make It More Inclusive

Egypt’s growing population needs about 700,000 new jobs every year, which is possible only if the private sector becomes the main engine of growth

After more than a year since the launch of the economic reform program, GDP growth is strengthening and inflation is declining. The government trimmed the budget deficit, tourism revenues and remittances are increasing, and the country’s foreign exchange reserves have been rebuilt. The floating of the pound and the initial…

IMF Staff Completes 2017 Article IV Visit to Sudan

A team from the International Monetary Fund (IMF) led by Daniel Kanda visited Khartoum from September 13–September 26 to hold discussions on the 2016 Article IV Consultation with Sudan

Economic conditions in Sudan remain challenging in the face of persistent fiscal deficits, high inflation, and economic sanctions. The economic outlook hinges on implementing bold and broad-based reforms to stabilize the economy and strengthen growth.  The expansion of social safety nets to support the most vulnerable and reforms to improve…

IMF Staff Completes 2017 Article IV Visit to the Federal Republic of Ethiopia

Real gross domestic product (GDP) is estimated to have increased by 9 percent in 2016/17

Real gross domestic product is estimated to have increased by 9 percent in 2016/17. Prudent budget execution led to a lower-than-planned fiscal deficit, estimated at 2.5 percent of GDP. To complement the restrictive fiscal stance, monetary policy should also be tightened. An International Monetary Fund (IMF) staff team led by…

Egypt: The Economy Is Gathering Strength

Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves

“The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they have sought to protect the most vulnerable. We have seen that economic activity has been gathering…

IMF Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth reaching 5.9 percent in the first three quarters of 2016, up from 5.6 percent in 2015

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…

IMF Staff Completes 2016 Article IV Mission to the Republic of Congo

An International Monetary Fund (IMF) team led by Dalia Hakura, Mission Chief for the Republic of Congo, visited Brazzaville during October 25-November 7, 2016 to conduct discussions for the 2016 Article IV review of the Congolese economy. Discussions focused on assessing the macroeconomic impact of the sharp decline in oil…

IMF Staff Holds Review Mission to Tanzania

The Bank of Tanzania’s foreign exchange reserves have strengthened in recent months

A team from the International Monetary Fund (IMF), led by Mauricio Villafuerte, visited Tanzania from October 18–28, 2016 and held discussions with the authorities on the fifth review under the Policy Support Instrument (PSI) program that was approved on July 16, 2014.[1] At the end of the mission Mr. Villafuerte…