Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to the Democratic Republic of the Congo

The mission thanks the Congolese authorities for their hospitality, openness, and cooperation

Non-mining growth is projected to more than double in 2019, but total GDP growth will decelerate based on the assumption of a slowdown in mining activity; Stronger revenue mobilization is needed to enhance spending on infrastructure; Reducing regulations, simplifying tax payments, and improving governance should help to foster private sector…

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) |

IMF Staff Completes Program Review and Article IV Mission to Niger

IMF Mission reached a staff level agreement with the authorities on economic and financial policies that could support the completion of the fourth program review

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

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…

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) |

IMF Management Approves a Staff-Monitored Program with The Gambia

A Staff-Monitored Program (SMP) is an informal and flexible instrument for dialogue between the Fund staff and a member country on its economic policies

The Management of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) with The Gambia covering the period from January to December 2019. An SMP is an informal and flexible instrument for dialogue between the Fund staff and a member country on its economic policies. SMPs are not accompanied…

Source: International Monetary Fund (IMF) |

Sierra Leone: International Monetary Fund (IMF) Staff concludes First ECF Review Mission

The economic landscape in Sierra Leone remains challenging

The Sierra Leone authorities and IMF mission concluded discussions, ad referendum, on economic policies to pave the way for consideration by the IMF Executive Board of the first review under the ECF-supported program; continued actions to mobilize revenue and manage public finances remain key priorities to reduce public debt and…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes 2019 Article IV visit to Zambia

Zambia’s development strategy targeting a rapid scaling up in infrastructure spending has resulted in large fiscal deficits, financed by nonconcessional debt

IMF staff and Zambian authorities took stock of recent economic developments and the future outlook and prospects as part of the 2019 Article IV consultation; large fiscal deficits and rising debt service have resulted in domestic expenditure arrears, taking a toll on growth; discussions focused on policy options to lower debt-related…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff Level Agreement on the Fifth Review of Tunisia’s Reform Program Supported by the Extended Fund Facility Arrangement

The IMF team and the Tunisian authorities have reached a staff-level agreement on the Fifth Review of the country’s economic reform program supported by the IMF’s EFF arrangement

A staff-level agreement was reached between IMF staff and the Tunisian authorities on the Fifth review of Tunisia’s economic reform program supported by the Extended Fund Facility arrangement; The authorities and IMF staff agreed on policy and reform steps to ensure that the budget deficit target of 3.9 percent of…