Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Fourth Review Under the Policy Coordination Instrument for Seychelles

The 2019 economic growth is estimated to reach about 4 percent, reflecting strong output in the tourism and communication sectors

The implementation of the Seychelles’ economic program is largely on track; The 2019 economic growth is estimated to reach about 4 percent, reflecting strong output in the tourism and communication sectors; The near-to-medium-term economic outlook continues to be favorable, provided that the authorities maintain their prudent policies under the Policy…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Cabo Verde

Structural reforms remain focused on domestic revenue mobilization, public enterprises reforms, and the strengthening of the financial sector

The IMF team and the Cabo Verdean authorities reached a staff-level agreement on the first review under the program supported by the Policy Coordination Instrument [1], that will be submitted for approval by IMF management and Executive Board; The medium-term fiscal framework supports the authorities’ continued efforts to anchor macroeconomic…

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 Mission to Botswana

An International Monetary Fund (IMF) team, led by Mr. Papa N’Diaye, visited Gaborone during November 13-27 to hold discussions for the 2019 Article IV Consultation with Botswana

Growth is expected to slow to about 3½ percent in 2019, due to weaknesses in the diamond market, a severe drought, and slower growth in neighboring countries. In 2020, it is expected to rise to 4.2 percent as the diamond market normalizes and copper production comes into stream; Fiscal consolidation…

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) |

Democratic Republic of Congo and IMF Mission Reach an Agreement ad-referendum on Financial Assistance Under the Rapid Credit Facility and a Staff-Monitored Program

An International Monetary Fund (IMF) team, headed by Mauricio Villafuerte, visited Kinshasa, Democratic Republic of Congo (DRC), over November 6–15, 2019

The Congolese authorities and the IMF team reached an agreement ad-referendum on a reform program that could be supported by the Rapid Credit Facility and a Staff-Monitored Program through end-May 2020; The Congolese economy faces multiple challenges with weakening economic growth, pervasive poverty, fragmented taxation system and fragile judiciary; Discussions…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) staff completes 2019 Article IV and Second ECF Review Mission to Sierra Leone

While the economy is continuing to recover, the outlook remains challenging and improving the well-being of Sierra Leoneans is an ambitious endeavor

The Sierra Leone authorities and IMF mission concluded discussions, reaching staff-level agreement on economic policies to pave the way for the IMF Executive Board to consider the second review under the ECF‑supported program; while the economy is continuing to recover, the outlook remains challenging and improving the well-being of Sierra…

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 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…