International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to Botswana

An International Monetary Fund (IMF) team, led by Mr. Papa N’Diaye, visited Gaborone during November 13-27 to hold discussions for the 2019 Article IV Consultation with Botswana

Growth is expected to slow to about 3½ percent in 2019, due to weaknesses in the diamond market, a severe drought, and slower growth in neighboring countries. In 2020, it is expected to rise to 4.2 percent as the diamond market normalizes and copper production comes into stream; Fiscal consolidation…

For Djibouti, Infrastructure Investment Paves Way to Regional Hub

Djibouti’s recent investment boom in infrastructure has the potential to transform the economy into a regional hub for East Africa, creating more jobs and helping the country return to a sustainable level of debt, says the IMF in its latest assessment of the economy

"The authorities should advance rapidly with critical reforms aimed at translating investment into strong, inclusive, and job-creating growth," says the IMF’s mission chief for Djibouti Eric Mottu. The small state in the arid Horn of Africa, neighboring land-locked Ethiopia, largely depends on its deep-water harbor. The country is expanding its…

IMF Executive Board Concludes Annual Discussions on CEMAC Countries’ Common Policies

Growth is projected to be 1.9 percent in 2016, as oil production and investment remain sluggish

On July 13, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the annual discussions on Common Policies and Challenges of Member Countries with the Central African Economic and Monetary Community (CEMAC).[1] CEMAC growth was subdued in 2015. It slowed to 1.6 percent, from 4.9 percent in 2014, because of reduced public investment and lower oil…

Bridging South Africa’s Economic Divide

David Lipton / Witwatersrand University, Johannesburg

Thank you very much for your kind introduction and the warm welcome from the Witwatersrand community. It is a pleasure to be back in South Africa. Let me begin with a tribute to South Africa’s achievements. This country offers an extraordinary legacy of freedom and reason that is a model…

IMF Executive Board Concludes 2016 Article IV Consultation with South Africa

On July 1, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with South Africa. South Africa has made impressive economic and social progress in the past two decades. Yet, deep-rooted structural problems—infrastructure bottlenecks, skill mismatches, and harmful insider-outsider dynamics—are holding back growth and exacerbating…

IMF Staff Completes 2016 Article IV Mission to South Africa

An International Monetary Fund mission team led by Ms. Laura Papi visited Pretoria, Johannesburg, and Cape Town from April 18 to May 4, to conduct the 2016 Article IV Consultation discussions with South Africa. At the conclusion of the visit, Ms. Papi made the following statement: “South Africa faces a…

African Consultative Group Meeting: Statement by the Chairman of the African Caucus and the Managing Director of the IMF

Mr. Abdoulaye Bio-Tchané, Chairman of the African Caucus, and Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), co-chaired the African Consultative Group meeting today at the IMF Headquarters. They issued the following statement after the conclusion of the Group’s meeting in Washington.[1]  “We had very productive discussions on Africa’s…

IMF Staff Holds Combined 2016 Article IV Consultation and Fifth ECF Review Mission to Sierra Leone

An International Monetary Fund (IMF) mission led by John Wakeman-Linn visited Freetown during March 15–29, 2016 to conduct the fifth review under the Extended Credit Facility (ECF) and hold the 2016 Article IV consultation discussions.1 At the conclusion of the visit, Mr. Wakeman-Linn issued the following statement: “Sierra Leone’s economy…

Nigeria—Act with Resolve, Build Resilience, and Exercise Restraint

By Christine Lagarde, Managing Director, International Monetary Fund, Speech to the Nigerian National Assembly Abuja, January 6, 2016

As prepared for delivery Introduction Honorable Speaker of the House, Honorable Members of Parliament, Honorable Members of the Government, Ladies and Gentlemen, Good morning—and—Happy New Year! I would like to thank you for the gracious introduction, and Members of Parliament and the people of Nigeria for their incredible hospitality. I…

Intergovernmental Group of twenty-four on international monetary affairs and development communiqué October 8, 2015

1.                  We, the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, held our ninety-fourth meeting in Lima, Peru on October 8, 2015 with Alain Bifani, Director-General of the Ministry of Finance of Lebanon in the Chair; Mauricio Cárdenas, Minister of Finance and Public Credit of Colombia as First…