Source: International Monetary Fund (IMF) |

Coronavirus - Madagascar: International Monetary Fund (IMF) Executive Board approves an additional US$171.9 million disbursement under the Rapid Credit Facility (RCF) to Madagascar to address the COVID-19 Pandemic

Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to the Republic of Madagascar to US$337.9 million; Madagascar’s macroeconomic outlook has been affected by weaker external demand, the increased spread of the pandemic, and significant losses of revenue; the additional resources under the…

Source: International Monetary Fund (IMF) |

Coronavirus - Senegal: International Monetary Fund (IMF) Executive Board Completes First Review Under the Policy Coordination Instrument for Senegal

The COVID-19 pandemic is taking a heavy toll on Senegal’s economy

The COVID-19 pandemic is taking a heavy toll on the economy with growth projected at 1.1 percent in 2020 compared to 5.3 percent in 2019; The authorities have taken significant actions to contain the pandemic and mitigate its economic fallout, supported by additional financing from Senegal's development partners and participation…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) and World Bank Consider Somalia Eligible for Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative

This assessment is an important step towards forgiveness of most of Somalia’s debt, which measured US$5.3 billion at the end of 2018

The Executive Boards of the International Monetary Fund (IMF) and World Bank met, on February 12 and 13, respectively, to consider Somalia’s eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities’ sustained commitment to economic and institutional reforms under challenging…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on the Fourth Review under the Extended Credit Facility for the Central African Republic

An International Monetary Fund (IMF) team led by Mr. Samir Jahjah held program discussions with the Central African Republic authorities on the fourth review of the program supported by an Extended Credit Facility (ECF)

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The view 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…

Source: International Monetary Fund (IMF) |

IMF Staff Team Concludes Visit to Burkina Faso for ECF Review and Article IV Consultation

An International Monetary Fund (IMF) mission led by Ms. Corinne Deléchat, visited Ouagadougou during October 18-29, 2016, to conduct discussions on the sixth review of Burkina Faso’s economic and financial program supported by an IMF Extended Credit Facility (ECF), and to conduct the Article IV Consultation. At the end of…

Source: International Monetary Fund (IMF) |

The IMF Regional Technical Assistance Center for West Africa Holds its Steering Committee Meeting

The IMF Regional Technical Assistance Center for West Africa (AFRITAC West) held the 26th session of its Steering Committee in Abidjan, Republic of Côte d’Ivoire, on May 4-5, 2016. During the meetings, the Committee endorsed the Center’s activities and financial reports for the fiscal year that ended in April 2016, adopted…

Source: International Monetary Fund (IMF) |

IMF, Policymakers, and Academics, Debate the Future of Monetary Integration in Sub-Saharan Africa

The Africa Training Institute (ATI), the IMF, and the Banque de France jointly organized a high-level seminar at the ATI in Mauritius on March 7–8, 2016. Over 30 high-level policymakers from across sub-Saharan Africa and academics from Africa, America, and Europe gathered to discuss the future of currency areas, with…

Source: International Monetary Fund (IMF) |

Nigeria—Act with Resolve, Build Resilience, and Exercise Restraint

By Christine Lagarde, Managing Director, International Monetary Fund, Speech to the Nigerian National Assembly Abuja, January 6, 2016

As prepared for delivery Introduction Honorable Speaker of the House, Honorable Members of Parliament, Honorable Members of the Government, Ladies and Gentlemen, Good morning—and—Happy New Year! I would like to thank you for the gracious introduction, and Members of Parliament and the people of Nigeria for their incredible hospitality. I…