Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Mali on First Review under Extended Credit Facility (ECF) Arrangement

A team from the International Monetary Fund (IMF), led by Boriana Yontcheva, visited Bamako during November 19-29, 2019

Economic growth is expected to reach 5 percent in 2019 and over the medium term, despite the challenging security situation, reflecting some resilience in the economy; The fiscal deficit is expected to meet the West African Economic and Monetary Union (WAEMU)’s convergence criteria of 3 percent of GDP in 2019;…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV and Program Review Mission to Madagascar

An International Monetary Fund (IMF) mission led by Charalambos Tsangarides, mission chief for Madagascar, visited Antananarivo from November 11 to 25

IMF staff and the authorities reached staff-level agreement for the sixth program review, subject to approval by IMF management and the Executive Board; The implementation of the authorities’ program supported by the Extended Credit Facility (ECF) arrangement has remained satisfactory; The authorities’ plan to increase public investment and social spending…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Mozambique

The outlook for 2020 is for a strong rebound in economic activity and low inflation

An International Monetary Fund (IMF) staff team led by Ricardo Velloso visited Maputo during November 6–12, 2019, to take stock of recent economic developments and update macroeconomic projections. At the end of the mission, Mr. Velloso issued the following statement: “As a result of Tropical Cyclones Idai and Kenneth, real…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes 2019 Article IV Consultation Mission to Ghana

Ghana’s macroeconomic outlook remains favorable, supported by strong activity in the extractive industry and a safer banking system

The macroeconomic outlook remains favorable, supported by overall prudent economic policies, strong extractive industry activity, and a safer banking system; Maintaining fiscal discipline in the run-up to the 2020 elections will be critical to safeguard the macroeconomic gains achieved since 2017; Tightening monetary policy may become necessary should price or…

Source: International Monetary Fund (IMF) |

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) |

Egypt- International Monetary Fund (IMF) Executive Board Completes Fifth Review under the Arrangement under Extended Fund Facility (EFF)

The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion)

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff-Level Agreement with Mali on a New Economic and Financial Program Supported by the IMF under the Extended Credit Facility

Key objectives of the program include strengthening fiscal discipline and tax revenue mobilization through further revenue administration reforms

The Malian authorities and IMF staff reached a staff-level agreement on a new economic and financial program supported by the Extended Credit Facility (ECF). The new program is aimed at fostering strong and inclusive growth and poverty reduction through investment in infrastructure and social sectors, and stimulating jobs creation, notably…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Program Negotiation Mission to São Tomé and Príncipe

Significant progress was made in the discussions on the economic policies and reforms that could be supported by a new IMF arrangement

São Tomé and Príncipe’s economy is experiencing strong imbalances and slower growth; Reversing large deficit spending of 2018 and implementing comprehensive structural reforms in energy and tourism sectors are needed to unleash the growth potential; Significant progress was made in the discussions on the economic policies and reforms that could…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Mission to Côte d’Ivoire

Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand

The authorities and the IMF team have reached a staff-level agreement on the fifth review of the ECF and EFF arrangements, subject to approval by IMF management and the Executive Board; Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand. Inflation remained subdued…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Staff Visit Mission for São Tomé and Príncipe

The mission team discussed with the new government its priorities and vision for economic development

A staff team from the International Monetary Fund (IMF) led by Xiangming Li visited São Tomé and Príncipe during January 23-31, 2019. At the end of the visit, Ms. Li issued the following statement: “The mission team discussed with the new government its priorities and vision for economic development, as…