Source: International Monetary Fund (IMF) |

Egypt: The Economy Is Gathering Strength

Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves

“The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they have sought to protect the most vulnerable. We have seen that economic activity has been gathering…

Source: International Monetary Fund (IMF) |

Ghana: Staff Concluding Statement of the 2017 Article IV Consultation Mission and Discussions for the Fourth Review under the Extended Credit Facility

Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to…

Source: International Monetary Fund (IMF) |

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…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2016 Article IV Consultation with Liberia

On July 8, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Liberia. The Ebola epidemic and the fall in commodity prices revealed the vulnerabilities of Liberia’s economy. After barely positive growth in 2014, GDP was flat in 2015 mainly due to the…

Source: International Monetary Fund (IMF) |

IMF Staff Starts Discussions with the Beninese Authorities on a Possible Program

At the request of the government of Benin, a team from the International Monetary Fund (IMF), led by Christine Dieterich, Mission Chief for Benin, visited Cotonou from June 6 to 18, to start discussions with the authorities on a possible three-year economic program supported by the Extended Credit Facility (ECF)…

Source: International Monetary Fund (IMF) |

IMF Mission Reaches Staff-Level Agreement with Madagascar on an Extended Credit Facility Arrangement

An International Monetary Fund (IMF) mission, led by Mr. Marshall Mills, visited Antananarivo during May 25–June 8, 2016, to review the results of the Staff Monitored Program (SMP)1 and hold discussions on a three-year economic and financial program for Madagascar, to be supported by the Extended Credit Facility (ECF)2 arrangement. At the…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Second Review Under the Policy Support Instrument (PSI) for Senegal

The Executive Board of the International Monetary Fund (IMF) completed the second review of Senegal’s economic performance under a program supported by the Policy Support Instrument (PSI)1. The PSI for Senegal was approved on June 24, 2015 (see Press Release No. 15/297). Following the Executive Board discussion, Mr. Mitsuhiro Furusawa, Deputy…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$2.9 billion Extended Arrangement under the Extended Fund Facility for Tunisia

The Executive Board of the International Monetary Fund (IMF) today approved a 48-month extended arrangement under the Extended Fund Facility (EFF) with Tunisia for an amount equivalent to SDR 2.04 billion (about US$2.9 billion, or 375 percent of Tunisia’s quota) to support the country’s economic and financial reform program detailed…