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) |

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 Rwanda

An International Monetary Fund (IMF) staff team, led by Laure Redifer, visited Kigali during October 31- November 13, 2019

Rwanda continues to make notable progress in sustaining high and inclusive growth; Real GDP growth outpaced expectations, averaging 10.3 percent in the first half of 2019; IMF staff have reached preliminary agreement with the government, subject to approval by its Executive Board, on policies that could support completion of the…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Liberia on an Economic and Financial Program that Could be Supported Under the Extended Credit Facility

The key objectives of the program are to restore macroeconomic stability, provide a foundation for fiscally sustainable, inclusive growth, and address weaknesses in governance

The Liberian authorities and IMF staff reached a staff-level agreement on a new program subject to fulfillment of significant prior actions in the fiscal and monetary areas; The key objectives of the program are to restore macroeconomic stability, provide a foundation for fiscally sustainable, inclusive growth, and address weaknesses in…

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) Executive Board Concludes 2019 Article IV Consultation with Somalia

The Federal Government of Somalia’s (FGS) continued efforts to broaden the tax base and strengthen tax administration has been reflected in increased domestic revenue

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the 2019 Article IV consultation [1] with Somalia. Improved confidence, on the back of the continued implementation of reforms, and strong donor support continue to support economic activity, especially in the telecom, trade, construction, and financial sectors. However, poor…

Source: International Monetary Fund (IMF) |

Egypt- International Monetary Fund (IMF) Executive Board Completes Fifth Review under the Arrangement under Extended Fund Facility (EFF)

The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion)

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Review Mission to Benin

Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity

Performance under the IMF-supported program was satisfactory in 2018; Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity; the authorities should pursue their efforts to improve the business environment and infrastructure, strengthen the governance framework, diversify the economy, promote high-quality education and health,…

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…