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) |

International Monetary Fund (IMF) Staff completes First Review under the Staff-Monitored Program for Somalia

The IMF team and the Somali authorities reached a staff-level agreement on the completion of the first review

Somali authorities and IMF staff reach a staff-level agreement on the completion of the first review of the fourth Staff-Monitored Program (SMP IV); authorities’ continued strong commitment to economic and financial reform is supporting satisfactory performance under SMP IV. An International Monetary Fund (IMF) staff team led by Allison Holland visited…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Review Mission to Togo

Economic growth is projected to slightly accelerate from 4.9 percent in 2018 to 5.3 percent in 2019

Togo’s economic recovery is continuing. GDP growth is projected at 5.3 percent in 2019. Inflation was 0.6 percent in July 2019. The fiscal consolidation was sustained through June 2019; revenue administration and public expenditure management reforms undertaken in recent years are progressing. The authorities are committed to address weaknesses in…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Negotiation Mission to São Tomé and Príncipe

São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth

Significant progress was made in the discussions with the government on the economic policies and reforms that could be supported by a new IMF arrangement; São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth. Improving the business environment to promote economic activities is…

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) |

International Monetary Fund (IMF) Executive Board completes First Review under the Extended Credit Facility and approves US$21.62 Million disbursement for Sierra Leone

Implementation of the program, supported by the IMF, has been satisfactory in the face of a challenging economic environment

Completion of the first review enables the IMF to disburse US$21.62 million to Sierra Leone; the government’s reform agenda will secure fiscal sustainability, create space for priority spending, and lay the foundation for inclusive growth and poverty reduction; implementation of the program, supported by the IMF, has been satisfactory in…

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) |

International Monetary Fund (IMF) Staff completes 2019 Article IV Mission to Namibia

Immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits

The economy will continue to mildly contract this year and recover gradually thereafter; immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits; structural reforms are needed to strengthen productivity and competitiveness, lift business confidence, and boost the long-term growth potential of the economy. An International…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff concludes visit to South Africa

Robust actions are needed to reduce the fiscal deficit and reverse the increase in public debt

South Africa’s subdued economic growth could be reignited if the pace of structural reform implementation accelerates; robust actions are needed to reduce the fiscal deficit and reverse the increase in public debt; the government has a renewed opportunity to press ahead with policies to further strengthen governance, encourage competition, increase…

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…