International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Jan 22, 2024

Strengthening Macro-fiscal and Budgeting Functions in Southern Africa

The event was organized by the IMF’s Regional Technical Assistance Center for Southern Africa (AFRITAC South)

Being a budget director, or the head of a macro-fiscal unit (MFU) of a ministry of finance, is a demanding job. So, it was an impressive combination of logistical ingenuity and good timing that brought together heads of budget and macro-fiscal functions from 11 Southern African countries for a regional…

Source: International Monetary Fund (IMF) | Mar 31, 2022

IMF Staff Concludes Visit to Chad

The new 36-month ECF arrangement, in an amount of SDR 392.56 million will help meet Chad’s large balance-of-payments and budgetary needs

The Chadian authorities and the staff of the International Monetary Fund (IMF) started discussions for the first review under the ECF-supported program approved on December 10. These discussions will continue in the coming days. Chad’s economic and financial situation was weaker than expected in 2021. Oil production was significantly lower…

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | Jan 11, 2022

IMF Executive Board Completes the Fourth Review Under the Policy Coordination Instrument and the First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Concludes the 2021 Article IV Consultation for Senegal

Senegal’s three-year PCI was approved on January 10, 2020

Recent indicators suggest that a strong recovery is underway, driven by industrial production, services, and retail activity. COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated. Performance under the program remains satisfactory. Concurrently with the PCI, the SCF/SBA arrangements are helping support the…

Source: International Monetary Fund (IMF) | Jun 29, 2020

Coronavirus - Sub-Saharan Africa: A Cautious Reopening

Sub-Saharan Africa’s economy is now expected to contract by 3.2 percent in 2020; double the contraction expected in April

The regional outlook has deteriorated sharply since the April 2020 Regional Economic Outlook report release. Sub-Saharan Africa’s economy is now expected to contract by 3.2 percent in 2020; double the contraction expected in April. This will contribute to poverty increase this year; the growth rate of new COVID infections has slowed…

Source: International Monetary Fund (IMF) | May 11, 2020

Coronavirus - Egypt: International Monetary Fund (IMF) Executive Board approves US$ 2.772 Billion in Emergency Support to Egypt to address the COVID-19 Pandemic

Pandemic and global shock pose an immediate and severe economic disruption that could negatively impact Egypt’s hard-won macroeconomic stability

The Executive Board of the IMF approved Egypt’s request for emergency financial assistance of US$ 2.772 billion to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic; the pandemic and global shock pose an immediate and severe economic disruption that could negatively impact Egypt’s…

Source: International Monetary Fund (IMF) | May 07, 2020

Coronavirus: Ethiopia steps up Health Spending with help from International Monetary Fund (IMF) Emergency Assistance

The funding will also support communication on health issues as combating COVID-19 will require a lot of advocacy work to ensure that people stick to prevention recommendations

The IMF has approved $411 million in emergency assistance for Ethiopia to help fight the coronavirus pandemic in the east African country. It also approved Ethiopia’s request for a suspension of debt service payments of about $12 million to the IMF under the IMF's Catastrophe Containment and Relief Trust for…

Source: International Monetary Fund (IMF) | Apr 11, 2020

Coronavirus – Tunisia: International Monetary Fund (IMF) Executive Board Approves a US$745 Million Disbursement to Tunisia to Address the COVID-19 Pandemic

The economic impact of the COVID-19 pandemic is rapidly unfolding, with a sharp fall in growth expected for 2020

The IMF Executive Board approved a US$745 million emergency assistance loan to support Tunisia’s pro-active policy response to the Covid-19 pandemic; The economic impact of the COVID-19 pandemic is rapidly unfolding, with a sharp fall in growth expected for 2020; The IMF’s emergency support will provide additional resources for the…

Source: International Monetary Fund (IMF) | Feb 13, 2020

International Monetary Fund (IMF) Statement at the end of a Staff Visit to Chad

An International Monetary Fund (IMF) mission led by Edward Gemayel visited N’Djamena during February 6-12

The economy continues to recover, and the outlook remains broadly positive, though subject to some challenges; Fiscal performance is on-track but spending pressures are starting to emerge. An International Monetary Fund (IMF) mission led by Edward Gemayel visited N’Djamena during February 6-12 to take stock of the latest economic and…

Source: International Monetary Fund (IMF) | Feb 12, 2020

International Monetary Fund (IMF) Staff Completes 2020 Article IV Visit to the Kingdom of Lesotho

An International Monetary Fund (IMF) staff team, led by Joseph Thornton, visited Maseru from January 29 – February 11, 2020

In a context of policy uncertainty, the weak regional environment has depressed growth below the levels needed to reduce poverty and unemployment; High government spending should be refocused on areas that can have the biggest impact on delivering vital services, protecting the vulnerable, and supporting private sector growth; Reforms should…

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