International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Mar 31, 2022

IMF Staff Concludes Visit to Chad

The new 36-month ECF arrangement, in an amount of SDR 392.56 million will help meet Chad’s large balance-of-payments and budgetary needs

The Chadian authorities and the staff of the International Monetary Fund (IMF) started discussions for the first review under the ECF-supported program approved on December 10. These discussions will continue in the coming days. Chad’s economic and financial situation was weaker than expected in 2021. Oil production was significantly lower…

Source: International Monetary Fund (IMF) | Mar 17, 2022

IMF Staff Completes 2022 Article IV Consultation Mission to Burundi

IMF staff held productive discussions with the authorities on the recent economic developments

The Burundian economy recovered moderately in 2021 and is expected to strengthen further in 2022, despite the effects of the war in Ukraine. In the medium term, Burundi will continue to grapple with the challenges of balancing priority social, development and COVID-19-related spending with external and debt sustainability; the current account…

Source: International Monetary Fund (IMF) | Feb 15, 2022

IMF Management Completes Second Review of the Staff-Monitored Program with Guinea Bissau

The authorities have made satisfactory progress on their reform program at end-September 2021 despite difficult socio-economic conditions compounded by the COVID-19 pandemic

IMF Management has approved the second review of Guinea Bissau’s Staff-Monitored Program (SMP), which supports the government’s program of reforms aimed at supporting macroeconomic stability and debt sustainability, strengthening social policies, and enhancing public governance. The authorities have made satisfactory progress toward establishing a strong track record of policy and…

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | Jan 12, 2022

IMF Executive Board Completes the 2021 Article IV Consultation and Fifth Review of the Policy Coordination Instrument for Rwanda

The PCI was approved on June 28, 2019 to facilitate macroeconomic and financial stability, while advancing an ambitious reform agenda under Rwanda’s National Strategy for Transformation (NST)

Rwanda’s economy has rebounded strongly in 2021, and the recovery is expected to continue in 2022, supported by strengthened vaccination efforts, a pickup in external demand, and accommodative macroeconomic policies. Nevertheless, with a high portion of the population still unvaccinated, risks about the path of the COVID-19 pandemic remain significant…

Source: International Monetary Fund (IMF) | Jan 11, 2022

IMF Executive Board Completes the Fourth Review Under the Policy Coordination Instrument and the First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Concludes the 2021 Article IV Consultation for Senegal

Senegal’s three-year PCI was approved on January 10, 2020

Recent indicators suggest that a strong recovery is underway, driven by industrial production, services, and retail activity. COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated. Performance under the program remains satisfactory. Concurrently with the PCI, the SCF/SBA arrangements are helping support the…

Source: International Monetary Fund (IMF) | Dec 22, 2021

IMF Management Approves a Staff-Monitored Program for the Central African Republic

Its satisfactory implementation would pave the way for the resumption of discussions under an Extended Credit Facility (ECF) supported program in mid-2022

The seven-month Staff-Monitored Program (SMP) will help the authorities address the economic challenges caused by the security crisis and the Covid-19 pandemic. Its satisfactory implementation would pave the way for the resumption of discussions under an Extended Credit Facility (ECF) supported program in mid-2022; the SMP will also support the…

Source: International Monetary Fund (IMF) | Nov 16, 2021

IMF Staff Concludes Article IV Mission to Zimbabwe

An International Monetary Fund (IMF) staff team, led by Dhaneshwar Ghura, Mission Chief for Zimbabwe, held discussions through virtual meetings in the context of the 2021 Article IV consultation

The COVID-19 crisis impacted an already weakened economy following cyclone Idai and a protracted drought. Containment and support measures introduced by the authorities helped in mitigating the adverse effects of the pandemic; economic activity is recovering, and mass vaccination continues steadily. But downside risks remain, dominated by the pandemic’s evolution,…

Source: International Monetary Fund (IMF) | Nov 15, 2021

IMF Management Approves the Completion of the First Review of the Staff-Monitored Program with the Republic of South Sudan

An effective follow-up by the appropriate institutions on the findings of the audit will be essential

IMF staff commends the authorities for implementing key economic reforms supported by the Staff-Monitored Program (SMP) that have stabilized the exchange rate, contributed to a significant decline in inflation, and unified the exchange rates in the market; it will be important to make sustained progress under the SMP, especially by…

Source: International Monetary Fund (IMF) | Oct 30, 2021

IMF Management Approves a Staff Monitored Program for the Union of the Comoros

The authorities’ top priority since the pandemic hit has been to limit the impact on the health of the population and preserve macroeconomic and financial stability

The Staff-Monitored Program (SMP) will help to build a strong track record of policy and reform implementation, possibly paving the way for an IMF-supported program; the six-month SMP will support the government’s program of reforms aimed at (i) supporting the recovery from the COVID-19 pandemic including by providing cash transfers…

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