Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Managing Director Christine Lagarde at the Conclusion of her visit to South Africa

The country has made substantial progress over the past quarter of a century, achieving much improved living standards for its citizens

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Pretoria at the conclusion of her visit to South Africa: “I wish to thank President Ramaphosa, Governor Kganyago, who is also the IMFC Chairman, as well as Minister Patel, Minister Davies and other…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes the Third Review of Gabon’s Extended Arrangement and Approves US$99 Million Disbursement

Executive Board decision brings total International Monetary Fund (IMF) disbursements to Gabon to about US$395.9 million

The government’s reform program, supported by the IMF, aims to restore macroeconomic stability and lay the foundation for inclusive growth. On December 19, 2018, the Executive Board of the International Monetary Fund (IMF) completed the third review of Gabon’s economic program supported by an extended arrangement under the Extended Fund…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Managing Director Christine Lagarde at the Conclusion of a Visit to Ghana

Increasing revenue mobilization, preserving financial stability, improving management of the energy sector, and implementing responsible polices will help anchor investors

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Accra at the conclusion of her visit to Ghana "My visit to Accra has been very fruitful and informative, and I am extremely grateful for the warm hospitality of the people of Ghana.…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Third Review of the Extended Credit Facility Arrangement for Cameroon

Cameroon to receive the fourth US$76.3 million disbursement from International Monetary Fund (IMF)

Program performance has improved, with progress in delayed structural reforms; fund supported program aims to restore Cameroon’s and CEMAC’s external and fiscal sustainability and to encourage growth. The Executive Board of the International Monetary Fund (IMF) today completed the third review of the arrangement under the Extended Credit Facility (ECF)…

Source: International Monetary Fund (IMF) |

Looking Ahead to Chart Today’s Course: The Future of Work in sub-Saharan Africa

Opening Remarks by Christine Lagarde, Managing Director, International Monetary Fund

As Prepared for Delivery Introduction Thank you, Minister Gyan-Baffour, for that kind introduction. I would like to extend my sincere gratitude to Vice-President Bawumia and the Ghanaian government for co-hosting this conference with the IMF. Your excellency, Vice-President Bawumia, Minister Gyan-Baffour, honored guests — it is my pleasure to welcome…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Fourth Reviews under an Extended Credit Facility and Extended Fund Facility for Côte d’Ivoire and Approves US$133.7 Million Disbursement

The country’s economic outlook remains robust, with growth projected at about 7½ percent in 2018–19

The budget deficit is projected to converge to the WAEMU regional norm of 3 percent of GDP in 2019; the program aims to achieve a sustainable balance of payments position, enhance domestic revenue mobilization, ensure debt sustainability, and foster inclusive growth and poverty reduction. On December 12, 2018, the Executive…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board completes Tenth Review under the Extended Credit Facility Arrangement for Mali and approves US$43.85 Million Disbursement

Completion of the review enables the immediate disbursement of SDR 31.65 million, bringing total disbursements under the arrangement to SDR 186.6 million

The near term macroeconomic outlook remains favorable, although there are considerable downside risks from the fragile security conditions, commodity prices changes, and weather conditions; program implementation is broadly on track. On December 10, 2018, the Executive Board of the International Monetary Fund (IMF) completed the Tenth Review of Mali’s performance…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Review Mission to Togo

An International Monetary Fund (IMF) team led by Mr. Ivohasina Razafimahefa visited Lomé during October 18-31, 2018 to conduct discussions on the third review of the program supported by an Extended Credit Facility (ECF)

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) |

Egypt Moving Forward: Key Challenges and Opportunities

Over the next five years, around 3.5 million young Egyptians are projected to join the labor force

The most important issues that face Egypt over the coming years are tied to a rapidly growing population, the modernization of its economy, and how best to ensure a modern social safety net to protect the most vulnerable in society. Below, IMF Mission Chief for Egypt Subir Lall discusses these…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Nigeria

The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term

Higher oil prices and portfolio flows have helped strengthen fiscal and external buffers; The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term; Action on a coherent set of policies to reduce vulnerabilities and increase growth over the medium term remains…