Source: International Monetary Fund (IMF) |

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.…

Source: International Monetary Fund (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…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Discussions with Guinea-Bissau

Following a staff visit to Bissau, an International Monetary Fund (IMF) team led by Felix Fischer continued discussions with the Guinea-Bissau authorities in Washington during the 2016 Annual Meetings on the set of policies needed to complete the first and second reviews of Guinea Bissau’s IMF-supported program under the Extended…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Sierra Leone

Sierra Leone: IMF Staff Completes Review Mission to Sierra Leone

An International Monetary Fund (IMF) mission led by John Wakeman-Linn visited Freetown during September 14-27, 2016 to conduct the sixth and final review under the Extended Credit Facility (ECF).[1] At the conclusion of the visit, Mr. Wakeman-Linn issued the following statement: “Sierra Leone’s economic reforms over the last three years…