Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Negotiation Mission to São Tomé and Príncipe

São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth

Significant progress was made in the discussions with the government on the economic policies and reforms that could be supported by a new IMF arrangement; São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth. Improving the business environment to promote economic activities is…

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) |

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with the State of Eritrea

Eritrea has recently emerged from a long period of conflict and international sanctions, which together deprived the country of vital investment, trading opportunities and external support

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with the State of Eritrea. Eritrea has recently emerged from a long period of conflict and international sanctions, which together deprived the country of vital investment, trading opportunities and external support, and left…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with Cabo Verde

Cabo Verde’s macroeconomic situation has improved significantly in recent years, and the outlook is positive despite downside risks

On July 15, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with Cabo Verde. Cabo Verde’s macroeconomic situation has improved significantly in recent years, and the outlook is positive despite downside risks. Economic growth has been robust and is projected at 5 percent for…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Fourth Extended Credit Facility (ECF) Review for Cameroon and Approves US$76.2 Million Disbursement

The completion of the review enables the disbursement of SDR 55.2 million (about US$76.2 million)

The Executive Board of the International Monetary Fund (IMF) completed the fourth review of the arrangement under the Extended Credit Facility (ECF) for Cameroon on July 17, 2019. The completion of the review enables the disbursement of SDR 55.2 million (about US$76.2 million), bringing total disbursements under the arrangement to…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Tunisia

An International Monetary Fund (IMF) staff team led by Björn Rother visited Tunis from July 11–17, 2019, to discuss Tunisia’s recent economic developments, outlook and reform program

Tight monetary and fiscal policies during the first half of 2019 have reduced inflation and laid the foundation for a second year of budget deficit reduction; Risks to the economic outlook have increased due to higher oil prices, weaker growth in Tunisia’s trading partners, and an appreciating dinar; Near-term policies…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Fourth Review under the Extended Credit Facility (ECF) for Chad, Approves US$38.9 Million Disbursement and Concludes 2019 Article IV Consultation

Chad’s program is supported by the implementation of policies and reforms by the regional institutions

Performance under the ECF-supported program has been broadly satisfactory with continued improvement in the fiscal position and progress in implementing structural reforms in spite recent delays; Overall economic activity strengthened in 2018 but further reform efforts are needed to support the recovery in the non-oil sector and improve social conditions;…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board completes First Review under the Extended Credit Facility and approves US$21.62 Million disbursement for Sierra Leone

Implementation of the program, supported by the IMF, has been satisfactory in the face of a challenging economic environment

Completion of the first review enables the IMF to disburse US$21.62 million to Sierra Leone; the government’s reform agenda will secure fiscal sustainability, create space for priority spending, and lay the foundation for inclusive growth and poverty reduction; implementation of the program, supported by the IMF, has been satisfactory in…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes the Fourth Review Under the Extended Credit Facility Arrangement, Approves a US$ 47.0 Million Disbursement, and Concludes the 2019 Article IV Consultation with Niger

The formal local private sector needs strengthening to ensure sustainably higher living standards and provide jobs for Niger’s rapidly growing labor force

Program implementation as been broadly satisfactory with public finances strengthening as planned, progress with the implementation of the structural reform agenda, and some slippages in the clearance in domestic payment arrears. Economic growth strengthened in 2018 and the outlook is promising thanks to the start of several large-scale projects by…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes the Fourth Review under the Extended Credit Facility (ECF) Arrangement and Approves US$34 Million Disbursement to Togo

During the same meeting, the Board also concluded the 2019 Article IV consultation

Program implementation under the ECF arrangement has been broadly satisfactory; It aims to substantially reduce the fiscal deficit, refocus policies on inclusive growth, and resolve the financial weaknesses in the two public banks; Togo needs to safeguard the hard-won fiscal consolidation and pursue debt reduction. On June 26, 2019, the Executive Board…