Source: International Monetary Fund (IMF) |

Mali: International Monetary Fund (IMF) Executive Board extends Immediate Debt Service Relief for another Six Months

Relief on debt service will free up scarce financial resources to continue strengthening the country’s medical care capacity and addressing the social and economic fallout from the COVID-19

On October 30, 2020, the Executive Board of the International Monetary Fund (IMF) approved a second six-month tranche of debt service relief for Mali under the Catastrophe Containment and Relief Trust (CCRT) without a meeting; the relief on debt service will free up scarce financial resources to continue strengthening the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Review Mission to Central African Republic

Welcomes the progress made in the fight against the Covid-19 pandemic

The IMF team welcomes the progress made in the fight against the Covid-19 pandemic and the preparation of next December’s presidential and legislative elections; the pandemic and the containment measures have had a significant impact on growth, inflation, and public finances; the Central African authorities and the IMF team discussed…

Source: International Monetary Fund (IMF) |

Opening Remarks at Mobilizing with Africa II High-Level Virtual Event

We are here today because COVID-19 continues its assault on the health and wellbeing of people, and on the economy

By Managing Director Kristalina Georgieva As prepared for delivery Excellencies, Ministers, Ladies and Gentlemen—thank you for participating in this important event. I am honored to co-host with President Malpass. And I would like to recognize U.N. Secretary General Guterres and AU Commission Chair Moussa Faki Mahamat. We are here today…

Source: International Monetary Fund (IMF) |

Coronavirus - Malawi: IMF Executive Board Approves an Additional US$101.96 Million Disbursement under the Rapid Credit Facility for Malawi to Address the COVID-19 Pandemic

This additional IMF financing will help fill part of the resulting increased external financing gap and provide the fiscal space needed to address critical spending needs

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to Malawi to US$193 million; Malawi’s economic outlook has worsened since the first RCF as COVID infections have risen and the global and regional economic situation has deteriorated; This additional IMF financing…

Source: International Monetary Fund (IMF) |

Coronavirus: International Monetary Fund (IMF) Staff issues an Interim Performance Update to the Board on Rwanda’s Policy Coordination Instrument (PCI)

COVID-19 pandemic has had a severe economic impact on Rwanda through implementation of strict domestic measures to contain the spread of virus and related global spillovers

All end-December 2019 quantitative targets for the second review under the PCI [1] were met and performance on the reform targets was broadly on track; the heavy toll of the COVID-19 pandemic has pushed the fiscal targets for end-June 2020 out of reach and hampered progress in advancing the reform…

Source: International Monetary Fund (IMF) |

Coronavirus - Angola: Confronting the COVID-19 Pandemic and the Oil Price Shock

Only months after the conclusion of the second review in December 2019, the COVID-19 pandemic reached Angola, ushering in economic and health crises

The COVID-19 pandemic and the shock from the falling price of oil have put severe pressure on Angola since the country’s second review under the Extended Fund Facility (EFF) in December 2019. Only months after the conclusion of the second review in December 2019, the COVID-19 pandemic reached Angola, ushering…

Source: International Monetary Fund (IMF) |

Coronavirus - Mauritania: International Monetary Fund (IMF) Executive Board completes Fifth Review Under the Extended Credit Facility Arrangement for the Islamic Republic of Mauritania, approves Augmentation and US$52 Million Disbursement

The IMF’s support will provide additional resources to mitigate the pandemic’s socio-economic impact and continue with institutional reforms to foster an inclusive recovery

The COVID-19 pandemic continues to impose severe health, social, and economic hardships in Mauritania, with a 3.2 percent contraction of output expected in 2020; the authorities have responded swiftly to the shock with measures to contain the pandemic and alleviate its economic fallout. They are prioritizing health spending and targeted…

Source: International Monetary Fund (IMF) |

Coronavirus - Zambia: International Monetary Fund (IMF) Statement on Zambia

Imperative that central banks’ operational independence and credibility is maintained, particularly at this critical time when economic stability is threatened by COVID-19

“In response to media inquiry regarding the recently announced change in leadership at the central bank of Zambia, an IMF spokesman made the following statement: “We note the change in leadership announced over the weekend at the Bank of Zambia before the end of the previous Governor’s mandate. The macroeconomic…

Source: International Monetary Fund (IMF) |

Coronavirus - Ethiopia: International Monetary Fund (IMF) reaches a Staff-Level Agreement for the First Review of the Extended Credit Facility-Extended Fund Facility for Ethiopia

The COVID-19 pandemic has had a significant adverse impact on Ethiopia and created serious health and economic challenges

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a virtual 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…

Source: International Monetary Fund (IMF) |

Coronavirus - Gabon: International Monetary Fund (IMF) Executive Board Approves a US$152.61 Million Disbursement Under the Rapid Financing Instrument to Gabon to Address the COVID-19 Pandemic

Weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions

This is the second disbursement under the Rapid Financing Instrument (RFI) to help Gabon address urgent balance of payment needs stemming from the COVID-19 pandemic; weaker external demand and a deepening of the impact of the COVID-19 pandemic have further deteriorated growth prospects and worsened external and fiscal positions; the additional resources…