Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Senegal

During the visit, the IMF team met with His Excellency, Prime Minister Ousmane Sonko; Mr. Cheikh Diba, Minister of Finance and Budget; and other senior government officials

A team from the International Monetary Fund (IMF), led by Mr. Edward Gemayel, conducted a mission to Senegal from April 26 to May 3, 2024, to take stock of the recent economic and political developments and lay the ground for the second review under the existing IMF-supported program. At the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes the First Review of the Arrangements under the Extended Fund Facility and Extended Credit Facility for the Islamic Republic of Mauritania and Concludes an Arrangement under the Resilience and Sustainability Facility

The RSF arrangement will support Mauritania’s efforts to strengthen its resilience to climate shocks, to enhance its disaster risk management capacities, and to expedite the transition toward cleaner energy sources

IMF staff and the Mauritanian authorities reached a preliminary agreement to complete the first review of the program supported by the Extended Credit Facility and the Extended Fund Facility, and a preliminary staff level agreement for a program under the IMF Resilience and Sustainability Facility (RSF) for a total amount…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Concludes 2022 Third Review Under the Extended Credit Facility Arrangement with The Democratic Republic of the Congo

The completion of the Third Review allowed an immediate disbursement equivalent to SDR152.3 million (about US$ 203 million) to support balance-of-payment needs

The IMF Executive Board decision allows for an immediate disbursement of about US$203 million to the Democratic Republic of the Congo. This disbursement will help reinforce international reserves, given downside risks to the domestic and global economy outlook. Despite multiple shocks, economic activity has proven resilient supported by higher-than-envisaged mining…

Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Staff Completes a Virtual Extended Credit Facility First Review Mission for São Tomé and Príncipe

The COVID-19 pandemic is expected to cause the economy to contract sharply by 6.5 percent this year

The COVID-19 pandemic is expected to cause a sharp real economic contraction of 6.5 percent in 2020 and raise large health and social needs; Program performance under the Extended Credit Facility (ECF) had a good start, but progress has been hampered by the pandemic and some policy slippages prior to…

Source: International Monetary Fund (IMF) |

Coronavirus – Ghana: International Monetary Fund (IMF) Executive Board approves a US$1 billion disbursement to Ghana to address the COVID-19 Pandemic

The COVID-19 pandemic is already impacting Ghana severely

On April 13, 2020, the IMF Executive Board approved the disbursement of US$1 billion to be drawn under the Rapid Credit Facility; The COVID-19 pandemic is already impacting Ghana severely. Growth is slowing down, financial conditions have tightened, and the exchange rate is under pressure; The authorities have timely and…

Source: International Monetary Fund (IMF) |

Coronavirus – Tunisia: International Monetary Fund (IMF) Executive Board Approves a US$745 Million Disbursement to Tunisia to Address the COVID-19 Pandemic

The economic impact of the COVID-19 pandemic is rapidly unfolding, with a sharp fall in growth expected for 2020

The IMF Executive Board approved a US$745 million emergency assistance loan to support Tunisia’s pro-active policy response to the Covid-19 pandemic; The economic impact of the COVID-19 pandemic is rapidly unfolding, with a sharp fall in growth expected for 2020; The IMF’s emergency support will provide additional resources for the…

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…