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) |

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) |

International Monetary Fund (IMF) Executive Board Approves US$12.3 Million Rapid Financial Assistance to the Union of Comoros in the Wake of Cyclone Kenneth

These funds will help the authorities address large budgetary and external financing needs arising from the effects of Tropical Cyclone Kenneth

IMF financial assistance will help to address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs after Cyclone Kenneth; The authorities are committed to rebuilding the economy’s productive capacity. To this end, they plan to repair damaged infrastructure and provide support to the poor while maintaining macroeconomic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board completes Sixth Review under the Extended Credit Facility Arrangement for the Central African Republic and approves US$ 31.70Million disbursement

The Central African Republic’s performance under the ECF arrangement remains satisfactory despite a challenging security environment and difficult humanitarian conditions

Substantial progress has been achieved under the ECF arrangement, including in stabilizing the economy, reducing fiscal vulnerabilities, and improving public financial management; the recent peace agreement between the government and 14 armed groups could constitute a pivotal step toward ending the ongoing crisis; the authorities remain committed to pursuing fiscal policy…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes the Fourth Review Under the Extended Credit Facility Arrangement, Approves a US$ 47.0 Million Disbursement, and Concludes the 2019 Article IV Consultation with Niger

The formal local private sector needs strengthening to ensure sustainably higher living standards and provide jobs for Niger’s rapidly growing labor force

Program implementation as been broadly satisfactory with public finances strengthening as planned, progress with the implementation of the structural reform agenda, and some slippages in the clearance in domestic payment arrears. Economic growth strengthened in 2018 and the outlook is promising thanks to the start of several large-scale projects by…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes mission to Comoros on possible emergency financial assistance following Cyclone Kenneth

IMF assistance would help address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs

IMF mission reached a preliminary staff-level understanding on a possible emergency financial assistance to Comoros, following tropical Cyclone Kenneth; IMF assistance would help address Comoros’ budgetary and external financing gaps arising from reconstruction and humanitarian needs; the assistance could also play a catalyst role in securing grants from development partners and…

Source: International Monetary Fund (IMF) |

Eritrea: International Monetary Fund (IMF) Staff completes 2019 Article IV Mission

Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy

The peace agreement with Ethiopia and lifting of international sanctions provide a welcome opportunity for Eritrea to build an impetus for economic development; Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy; the IMF stands ready to support economic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission for a Staff-Monitored Program to Zimbabwe

IMF staff and the Zimbabwean authorities have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Program

IMF staff and the Zimbabwean authorities have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Program; the SMP aims to implement a coherent set of policies that can facilitate a return to macroeconomic stability. A team from the International Monetary Fund (IMF), led by…

Source: International Monetary Fund (IMF) |

Statement at the end of an International Monetary Fund (IMF) Staff Review Mission to Tunisia

The authorities are aware of the risks weighing on the economy and are committed to containing fiscal and external imbalances in this election year

The Tunisian authorities and IMF staff have reached mutual understandings on most issues and agree that the authorities need some more time to fully flesh out their policy proposals in a few areas. Discussions will continue in Washington, DC, over the coming days; the authorities’ efforts to support growth by…

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…