IMF Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth reaching 5.9 percent in the first three quarters of 2016, up from 5.6 percent in 2015

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Commodities, Rainfall, Instability Biggest Challenges —African Ministers

Rising inflation, drops in currency due to political instability Low commodity prices adding to fiscal pressures Help from international community “paramount” Low commodity prices, climate change, and insecurity are forcing many countries to make significant fiscal adjustments, African finance ministers said during the IMF-World Bank Spring Meetings in Washington D.C.…

IMF Executive Board Concludes Annual Discussions on CEMAC Countries’ Common Policies

Growth is projected to be 1.9 percent in 2016, as oil production and investment remain sluggish

On July 13, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the annual discussions on Common Policies and Challenges of Member Countries with the Central African Economic and Monetary Community (CEMAC).[1] CEMAC growth was subdued in 2015. It slowed to 1.6 percent, from 4.9 percent in 2014, because of reduced public investment and lower oil…

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…

IMF Staff Team Concludes the 2016 Article IV Consultation Mission with the Central African Republic and Reaches Staff-Level Agreement on an Economic Program Supported by an ECF Arrangement

An International Monetary Fund (IMF) team led by Samir Jahjah visited Bangui during May 17–27, 2016, to conduct discussions on the 2016 Article IV consultation. The mission also reached staff-level agreement with the authorities, subject to approval by IMF Management and the Executive Board, on an economic program that could…

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…

IMF Executive Board Approves US$2.88 billion Extended Fund Facility with Tunisia

The Executive Board of the International Monetary Fund (IMF) today approved a 48-month Extended Fund Facility (EFF) with Tunisia for an amount equivalent to SDR 2.04 billion (about US$2.88 billion, or 375 percent of Tunisia’s quota) to support the country’s economic and financial reform program. The authorities five-year economic vision…

IMF Executive Board Concludes 2016 Article IV Consultation with Algeria

On May 16, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Algeria, and considered and endorsed the staff appraisal without a meeting.2 The economic outlook has deteriorated since the 2014 Article IV consultation, with the fall in oil prices increasing the urgency to reshape…

IMF Executive Board Concludes 2016 Article IV Consultation with Islamic Republic of Mauritania

On April 25, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Islamic Republic of Mauritania.1 The global economic landscape has deteriorated since the 2014 Article IV Consultation and Mauritania continues to face a negative terms-of-trade shock as a result of the fall…

IMF Staff Concludes Review Mission to Ghana

A team from the International Monetary Fund (IMF), led by Joël Toujas-Bernaté, visited Accra from April 27-May 11, 2016, to conduct discussions on the third review of Ghana’s financial and economic program supported by the IMF’s Extended Credit Facility (ECF).[1] The discussions focused on the implementation of the program, the…