International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | Feb 05, 2022

IMF Staff Concludes Virtual Staff Visit to Côte d’Ivoire

An International Monetary Fund (IMF) staff team led by Luca Antonio Ricci conducted a virtual staff visit with the authorities of Côte d’Ivoire during January 25-February 3, 2022

The Omicron variant has had limited effects in Côte d’Ivoire, and the authorities are stepping up their vaccination efforts; The Ivorian economy continues to show signs of resilience to the impact of the pandemic. Inflation has increased recently, largely on account of food prices; Côte d’Ivoire’s next Article IV consultation…

Source: International Monetary Fund (IMF) | Dec 22, 2021

IMF Management Approves a Staff-Monitored Program for the Central African Republic

Its satisfactory implementation would pave the way for the resumption of discussions under an Extended Credit Facility (ECF) supported program in mid-2022

The seven-month Staff-Monitored Program (SMP) will help the authorities address the economic challenges caused by the security crisis and the Covid-19 pandemic. Its satisfactory implementation would pave the way for the resumption of discussions under an Extended Credit Facility (ECF) supported program in mid-2022; the SMP will also support the…

Source: International Monetary Fund (IMF) | Dec 13, 2021

IMF Staff Completes Mission for the Second Review of a Staff-Monitored Program to Guinea Bissau

The review aimed at assessing the efforts being undertaken to build a policy track record towards an Extended Credit Facility (ECF) arrangement in 2022

Progress on the Staff-Monitored Program (SMP) reform agenda has continued since the first review in October 2021; Strengthening revenue mobilization and the yield of new taxes and ensuring expenditure containment remain essential to buttress debt sustainability and to support social and pro-growth spending; Macroeconomic stabilization, strong governance and transparency measures…

Source: International Monetary Fund (IMF) | Dec 11, 2021

IMF Staff Completes 2021 Article IV Mission to Morocco

International Monetary Fund (IMF) staff team led by Roberto Cardarelli conducted virtual discussions with the Moroccan authorities on the 2021 Article IV Consultation

Morocco’s economy is rebounding. The economic recovery is expected to continue over the next few years, although the COVID-19 pandemic will leave some scars; the authorities have embarked on a broad range of structural reforms, which should be supported by an adequate financing plan and a coherent and stable macroeconomic…

Source: International Monetary Fund (IMF) | Nov 16, 2021

IMF Staff Concludes Article IV Mission to Zimbabwe

An International Monetary Fund (IMF) staff team, led by Dhaneshwar Ghura, Mission Chief for Zimbabwe, held discussions through virtual meetings in the context of the 2021 Article IV consultation

The COVID-19 crisis impacted an already weakened economy following cyclone Idai and a protracted drought. Containment and support measures introduced by the authorities helped in mitigating the adverse effects of the pandemic; economic activity is recovering, and mass vaccination continues steadily. But downside risks remain, dominated by the pandemic’s evolution,…

Source: International Monetary Fund (IMF) | Oct 30, 2021

IMF Management Approves a Staff Monitored Program for the Union of the Comoros

The authorities’ top priority since the pandemic hit has been to limit the impact on the health of the population and preserve macroeconomic and financial stability

The Staff-Monitored Program (SMP) will help to build a strong track record of policy and reform implementation, possibly paving the way for an IMF-supported program; the six-month SMP will support the government’s program of reforms aimed at (i) supporting the recovery from the COVID-19 pandemic including by providing cash transfers…

Source: International Monetary Fund (IMF) | Oct 26, 2021

IMF Executive Board Approves a US$76 Million Disbursement under the Rapid Credit Facility to Burundi to Address the COVID-19 Pandemic

The financial assistance will support the implementation of Burundi’s COVID-19 response plan aimed at limiting the disease spread

The COVID-19 pandemic and associated border closures resulted in a slowdown of Burundi’s economy, which threatens to deteriorate living standards; To address Burundi’s urgent balance of payments and fiscal needs, the IMF approved emergency financial assistance equivalent to about US$76.2 million under the Rapid Credit Facility; The financial assistance will…

Source: International Monetary Fund (IMF) | Oct 21, 2021

Sub-Saharan Africa: One Planet, Two Worlds, Three Stories

As the pandemic continues, authorities face an increasingly difficult policy environment, with rising needs, limited resources, and difficult tradeoffs

Sub-Saharan Africa is projected to grow by 3.7 percent in 2021 and 3.8 percent in 2022 – a welcome but relatively modest recovery, suggesting that divergence with the rest of the world will persist over the medium term; The crisis has highlighted key disparities in resilience between countries in sub-Saharan…

Source: International Monetary Fund (IMF) | Sep 08, 2021

IMF Executive Board Approves US$567.25 Million in Emergency Support to Tanzania to Address the COVID-19 Pandemic

Tanzania’s economic outlook has deteriorated due to the impact of the COVID-19 pandemic

The COVID-19 outbreak has led to the collapse of the tourism sector and amplified the need for significant financing to tackle the health and economic effects of the pandemic; The IMF approved US$567.25 million in emergency financial assistance under the Rapid Credit Facility and Rapid Financing Instrument to support the authorities’…

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