International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Feb 16, 2023

International Monetary Fund (IMF) Staff Concludes Visit to the Democratic Republic of the Congo

An International Monetary Fund (IMF) staff team led by Mercedes Vera Martin conducted a staff visit in Kinshasa during February 8-14, 2023, to discuss recent economic developments

Real GDP growth has been revised upwards to 8.5 percent in 2022 thanks to stronger production in the mining sector and is projected to remain elevated in 2023. The favorable 2023 outlook is overshadowed by heightened downside risks from an escalation of the armed conflict in the East, uncertainty in…

Source: International Monetary Fund (IMF) | Feb 07, 2023

International Monetary Fund (IMF) Executive Board Concludes Second Review Under the Extended Credit Facility Arrangement for the Republic of Congo and Approves US$87 million disbursement

Structural reforms under the authorities’ program are advancing, especially in procurement, management of public finances and debt, and publication of a decree on conflict of interests

The IMF Executive Board completed the second review under the Extended Credit Facility arrangement, enabling the Republic of Congo to draw the equivalent of SDR 64.80 million (about US$ 87 million). Strengthened economic recovery is gaining momentum but risks from lower oil prices and production and weak reform implementation remain.…

Source: International Monetary Fund (IMF) | Feb 02, 2023

International Monetary Fund (IMF) Executive Board Concludes 2022 Article IV Consultation with Algeria

The rise in inflation is a major challenge, amid a loose monetary policy stance

On February 1, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Algeria and considered and endorsed the staff appraisal without a meeting [2] . The upswing in hydrocarbon prices has alleviated pressures on public and external finances and the post-pandemic recovery has likely gathered pace .…

Source: International Monetary Fund (IMF) | Dec 23, 2022

International Monetary Fund (IMF) Executive Board Completes First and Second Reviews of Extended Credit Facility (ECF) Arrangement for Chad and Approves US$ 149.3 Million Disbursement

The completion of the two reviews enables the disbursement of SDR 112.16 million (about US$149.3 million), bringing total disbursements under the arrangement to SDR 168.24 million (about US$224 million)

The IMF Executive Board completed the First and Second Reviews of the Extended Credit Facility arrangement with Chad, providing the country with access to SDR 112.16 million (about US$ 149.3 million). This will help put Chad’s economy on a path toward sustainable economic growth and poverty reduction. Chad is the…

Source: International Monetary Fund (IMF) | Dec 23, 2022

International Monetary Fund (IMF) Executive Board Approves US$71 Million in Emergency Financing Support and Concludes 2022 Article IV Consultation with Guinea

Growth is expected to reach 4.7 percent in 2022 and 5.6 percent in 2023, driven by continued strength in the mining sector

Growth is expected to reach 4.7 percent in 2022 and 5.6 percent in 2023, driven by continued strength in the mining sector, though the non-mining sector is grappling with the impact of international price shocks. The Executive Board also approved a disbursement of SDR 53.55 million (about US$71 million) to…

Source: International Monetary Fund (IMF) | Dec 21, 2022

International Monetary Fund (IMF) Executive Board Concludes 2022 Third Review Under the Extended Credit Facility Arrangement with The Democratic Republic of the Congo

The completion of the Third Review allowed an immediate disbursement equivalent to SDR152.3 million (about US$ 203 million) to support balance-of-payment needs

The IMF Executive Board decision allows for an immediate disbursement of about US$203 million to the Democratic Republic of the Congo. This disbursement will help reinforce international reserves, given downside risks to the domestic and global economy outlook. Despite multiple shocks, economic activity has proven resilient supported by higher-than-envisaged mining…

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

International Monetary Fund (IMF) Staff Completes 2022 Article IV Mission to Djibouti

Urgent action is needed to restore debt sustainability and promote inclusive growth

Large investments over the past decade have driven strong economic growth, but the benefits have not been widely shared and public debt has risen sharply; A series of external shocks have weighed heavily on the economy and added to already significant budget pressures as debt service has tripled; Urgent action…

Source: International Monetary Fund (IMF) | Nov 21, 2022

International Monetary Fund (IMF) Staff Reach Staff-Level Agreement with the Democratic Republic of the Congo on the Third Review Under the Extended Credit Facility

The Congolese authorities and the IMF team reached staff-level agreement on policies for the completion of the third review under the ECF arrangement

The IMF team reached staff-level agreement on the third review of the authorities’ economic reform program supported by the Extended Credit Facility (ECF) arrangement; Despite recurrent external shocks and increasing inflation, the post-covid recovery continues to build momentum, with 2022 growth expected at 6.6 percent; Amidst high uncertainty, prudent policies…

Source: International Monetary Fund (IMF) | Nov 02, 2022

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility for Niger and Conducts the 2022 Article IV Consultation

An International Monetary Fund (IMF) staff team led by Mr. Antonio David held meetings from October 5 to November 2, 2022

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the second review of Niger's economic program under the Extended Credit Facility (ECF); Economic activity is expected to recover this year, should keep momentum in 2023, and accelerate over the medium-term, driven by higher oil production…

Source: International Monetary Fund (IMF) | Oct 27, 2022

Egypt: International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Fund Facility Arrangement

An International Monetary Fund (IMF) team held meetings to finalize discussions on IMF support for Egypt and the authorities’ comprehensive economic reform program

International Monetary Fund (IMF) staff and the Egyptian authorities have reached a staff-level agreement on comprehensive economic policies and reforms to be supported by a 46-month Extended Fund Facility (EFF) Arrangement of US$3 billion; The new EFF aims to safeguard macroeconomic stability and debt sustainability, improve Egypt’s resilience to external…

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