International Monetary Fund (IMF) / Press Release

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

International Monetary Fund (IMF) Executive Board Completes the Second Review under the Extended Credit Facility Arrangement for the Republic of Mozambique

The monetary policy consultation clause (MPCC) band was breached at the lower bound, as inflation decelerated faster than expected

The Executive Board of the International Monetary Fund (IMF) completed the Second Review under the three-year ECF arrangement for Mozambique. This allows for the immediate disbursement of SDR 45.44 million (about US$ 60.6 million), usable for budget support, bringing Mozambique’s total disbursements under the ECF arrangement to SDR 159.04 million (about…

Source: International Monetary Fund (IMF) | May 24, 2023

International Monetary Fund (IMF) Executive Board Approves US $3.5 billion Extended Fund Facility and Extended Credit Facility for Côte d’Ivoire

The Executive Board’s decision enables an immediate disbursement of SDR 371.7 million (US$495.4 million), which the Ivorian authorities intend to use for budget support

The Executive Board of the International Monetary Fund (IMF) approved 40-month arrangements under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) for Côte d’Ivoire in the amount of SDR 2,601.6 million (equivalent to 400 percent of quota or about US$3.5 billion). The program is consistent with the…

Source: International Monetary Fund (IMF) | May 19, 2023

International Monetary Fund (IMF) and Madagascar Reach Staff-Level Agreement on the Fourth Review of the Extended Credit Facility Arrangement

The agreement is subject to approval by the IMF Management and Executive Board, with Board consideration expected in June

IMF team and the Malagasy authorities reached a staff-level agreement on the fourth review of Madagascar’s economic reform program under the Extended Credit Facility. This staff-level agreement is subject to IMF Management approval and consideration by the IMF Executive Board. Growth is expected to stabilize around 4.0 percent in 2023,…

Source: International Monetary Fund (IMF) | May 19, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Cameroon on the Fourth Reviews of the Extended Credit Facility and the Extended Fund Facility

The mission has reached staff-level agreement with the Cameroonian authorities on the economic and financial policies that could support the approval of the fourth reviews of the program under the ECF and EFF arrangements

IMF staff and the Cameroonian authorities have reached staff-level agreement on economic policies to conclude the fourth reviews of the three-year program under the ECF and EFF arrangements. Cameroon will have access to SDR 55.2 million (about US$73.8 million) in financing once the review is formally completed by the IMF…

Source: International Monetary Fund (IMF) | May 09, 2023

International Monetary Fund (IMF) and Niger Reach Staff-Level Agreement on the Third Review of the Extended Credit Facility and a New Program under the Resilience and Sustainability Facility

The Nigerien authorities and the IMF team reached a staff-level agreement on the third review of Niger’s economic program under the Extended Credit Facility and a new program under the Resilience and Sustainability Facility

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the third review of Niger's economic program under the Extended Credit Facility (ECF) and a new program under the Resilience and Sustainability Facility (RSF); The economic outlook is favorable over the near and medium term, with…

Source: International Monetary Fund (IMF) | Apr 06, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility and Conducts Discussions on the 2023 Article IV Consultation with Zambia

The Zambian authorities and IMF staff team have reached a staff-level agreement on the first review of Zambia’s economic program under the ECF arrangement

IMF staff and the Zambian authorities have reached a staff-level agreement on economic policies to conclude the first review of the 38-month ECF-supported program. All structural benchmarks and quantitative performance criteria for the first review have been met; Zambia will have access to about US$188 million in financing once the review…

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…

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