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International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Staff Concludes Virtual Staff Visit to Côte d’Ivoire

An International Monetary Fund (IMF) staff team led by Luca Antonio Ricci conducted a virtual staff visit with the authorities of Côte d’Ivoire during January 25-February 3, 2022

The Omicron variant has had limited effects in Côte d’Ivoire, and the authorities are stepping up their vaccination efforts; The Ivorian economy continues to show signs of resilience to the impact of the pandemic. Inflation has increased recently, largely on account of food prices; Côte d’Ivoire’s next Article IV consultation…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Staff Completes 2021 Article IV Mission to Morocco

International Monetary Fund (IMF) staff team led by Roberto Cardarelli conducted virtual discussions with the Moroccan authorities on the 2021 Article IV Consultation

Morocco’s economy is rebounding. The economic recovery is expected to continue over the next few years, although the COVID-19 pandemic will leave some scars; the authorities have embarked on a broad range of structural reforms, which should be supported by an adequate financing plan and a coherent and stable macroeconomic…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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,…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

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…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

IMF Executive Board Approves a US$76 Million Disbursement under the Rapid Credit Facility to Burundi to Address the COVID-19 Pandemic

The financial assistance will support the implementation of Burundi’s COVID-19 response plan aimed at limiting the disease spread

The COVID-19 pandemic and associated border closures resulted in a slowdown of Burundi’s economy, which threatens to deteriorate living standards; To address Burundi’s urgent balance of payments and fiscal needs, the IMF approved emergency financial assistance equivalent to about US$76.2 million under the Rapid Credit Facility; The financial assistance will…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

Mali: International Monetary Fund (IMF) Executive Board extends Immediate Debt Service Relief for another Six Months

Relief on debt service will free up scarce financial resources to continue strengthening the country’s medical care capacity and addressing the social and economic fallout from the COVID-19

On October 30, 2020, the Executive Board of the International Monetary Fund (IMF) approved a second six-month tranche of debt service relief for Mali under the Catastrophe Containment and Relief Trust (CCRT) without a meeting; the relief on debt service will free up scarce financial resources to continue strengthening the…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Review Mission to Central African Republic

Welcomes the progress made in the fight against the Covid-19 pandemic

The IMF team welcomes the progress made in the fight against the Covid-19 pandemic and the preparation of next December’s presidential and legislative elections; the pandemic and the containment measures have had a significant impact on growth, inflation, and public finances; the Central African authorities and the IMF team discussed…