International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Oct 11, 2019

International Monetary Fund (IMF) Staff conclude their 2019 Article IV Consultation Mission and the Fourth and Fifth Reviews of the Extended Fund Facility (EFF) arrangement in Gabon

It was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms

The economy is slowly recovering, but significant challenges still need to be addressed to generate stronger and more inclusive growth; it was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms to improve governance, increase domestic revenue mobilization, enhance the management and effectiveness of public…

Source: International Monetary Fund (IMF) | Oct 10, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

The financial sector remains healthy, reinforced by Bank of Uganda’s strong supervision

A delay in oil sector investments could weigh on economic growth which is currently trending at 6 percent; The government needs to identify concrete measures to offset revenue shortfalls in this year’s budget to safeguard its fiscal targets and prevent domestic arrears; The financial sector remains healthy, reinforced by Bank…

Source: International Monetary Fund (IMF) | Oct 09, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Nigeria

An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja

A slow economic recovery is continuing, inflation is falling, and external buffers are declining in the face of increased portfolio outflows; Elevated fiscal deficits rely on central bank financing, which complicates monetary policy; Action on a coherent and coordinated set of policies is urgently needed to reduce vulnerabilities and increase…

Source: International Monetary Fund (IMF) | Oct 01, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Guinea-Bissau

Guinea-Bissau faces deeply-rooted problems of weak governance and corruption, which need to be addressed to allow Guinea-Bissau to realize its economic potential

At the request of Guinea-Bissau’s authorities, an International Monetary Fund (IMF) mission, led by Ms. Concha Verdugo-Yepes, visited Bissau from September 18 to October 1, 2019 to carry out a preliminary diagnostic of weaknesses in fiscal governance, market regulation, anti-money laundering and anti-corruption policies and practices. At the end of…

Source: International Monetary Fund (IMF) | Sep 27, 2019

International Monetary Fund (IMF) Staff Concludes Visit for the Article IV Consultation and Discussions on the First Review of the Staff-Monitored Program to Zimbabwe

The discussions covered recent economic developments, the near and medium-term outlook, risks to the economy, developments in the financial sector, and the set of economic policies

An International Monetary Fund (IMF) mission led by Mr. Gene Leon visited Harare from September 5th to 19th to conduct the Article IV Consultation and review progress under the Zimbabwe’s Staff-Monitored Program (SMP). The discussions covered recent economic developments, the near and medium-term outlook, risks to the economy, developments in the…

Source: International Monetary Fund (IMF) | Sep 18, 2019

International Monetary Fund (IMF) Staff completes First Review under the Staff-Monitored Program for Somalia

The IMF team and the Somali authorities reached a staff-level agreement on the completion of the first review

Somali authorities and IMF staff reach a staff-level agreement on the completion of the first review of the fourth Staff-Monitored Program (SMP IV); authorities’ continued strong commitment to economic and financial reform is supporting satisfactory performance under SMP IV. An International Monetary Fund (IMF) staff team led by Allison Holland visited…

Source: International Monetary Fund (IMF) | Sep 18, 2019

Statement at the End of an International Monetary Fund (IMF) Staff Visit to Malawi

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for Malawi, visited Lilongwe from September 10-17, 2019

Malawi’s recent economic performance has been favorable despite the impact of Cyclone Idai; Economic growth is expected to strengthen to about 4.5 percent in 2019 supported by a rebound in agriculture in most of the country and reconstruction of infrastructure damaged by the cyclone; Inflation is expected to remain in…

Source: International Monetary Fund (IMF) | Sep 10, 2019

International Monetary Fund (IMF) Staff completes Review Mission to Togo

Economic growth is projected to slightly accelerate from 4.9 percent in 2018 to 5.3 percent in 2019

Togo’s economic recovery is continuing. GDP growth is projected at 5.3 percent in 2019. Inflation was 0.6 percent in July 2019. The fiscal consolidation was sustained through June 2019; revenue administration and public expenditure management reforms undertaken in recent years are progressing. The authorities are committed to address weaknesses in…

Source: International Monetary Fund (IMF) | Aug 07, 2019

International Monetary Fund (IMF) Staff completes Program Negotiation Mission to São Tomé and Príncipe

São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth

Significant progress was made in the discussions with the government on the economic policies and reforms that could be supported by a new IMF arrangement; São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth. Improving the business environment to promote economic activities is…

Source: International Monetary Fund (IMF) | Aug 01, 2019

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with Somalia

The Federal Government of Somalia’s (FGS) continued efforts to broaden the tax base and strengthen tax administration has been reflected in increased domestic revenue

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the 2019 Article IV consultation [1] with Somalia. Improved confidence, on the back of the continued implementation of reforms, and strong donor support continue to support economic activity, especially in the telecom, trade, construction, and financial sectors. However, poor…

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