Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes the Last Review of Extended Credit Facility for Ghana

This will make available to Ghana the cumulative amount of SDR132.84 million (about US$185.2 million)

Ghana is concluding its four-year ECF-supported program; Executive Board decision allows to disburse the last tranche of SDR132.84 million (about US$185.2 million) to Ghana; ECF-supported program paved the way for a significant improvement of Ghana’s macroeconomic performance, though challenges remain. On March 20, 2019, the Executive Board of the International…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff Level Agreement on a Staff Monitored Program with The Gambia

The team discussed economic and financial policy commitments under a new Staff-Monitored Program (SMP) for 2019

Improved revenue mobilization and expenditure restraint are essential to ensure fiscal discipline and create fiscal space for much-needed public investment and social spending; Comprehensive reform of state-owned enterprises is needed to address budgetary risks and improve public service delivery; Restoring debt sustainability will require prudent fiscal policy, limiting external borrowing,…

Source: International Monetary Fund (IMF) |

IMF Management Complete the First Review under the Staff-Monitored Program for Somalia

IMF staff encourages the Somali authorities to sustain their reform momentum which will help pave the way towards eventual arrears clearance and debt relief

IMF staff commends the authorities for implementing key reforms and for satisfactory performance under the Staff-Monitored Program (SMP). IMF staff encourages the Somali authorities to sustain their reform momentum which will help pave the way towards eventual arrears clearance and debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative.  On…

Source: International Monetary Fund (IMF) |

MEDIA ADVISORY: Release of the IMF Departmental Paper on Scaling up Access to Finance for Small and Medium Enterprise in the Middle East and North Africa

Discussions will focus on how small and medium-sized enterprise financial inclusion is at the core of the economic diversification, growth, and job creation challenges many countries are facing

The International Monetary Fund (IMF) will launch its departmental paper entitled Scaling up Access to Finance for SMEs in MENA in a seminar which will take placeat the American University in Cairo, Tahrir campus. The Event is co-hosted by the American University in Cairo, the Economic Research Forum, and the IMF.  Discussions will…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Completes Staff Visit Mission for São Tomé and Príncipe

A staff team from the International Monetary Fund (IMF) led by Xiangming Li visited São Tomé and Príncipe during January 23-31, 2019

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) |

International Monetary Fund (IMF) Staff Completes Staff Visit Mission for São Tomé and Príncipe

The mission team discussed with the new government its priorities and vision for economic development

A staff team from the International Monetary Fund (IMF) led by Xiangming Li visited São Tomé and Príncipe during January 23-31, 2019. At the end of the visit, Ms. Li issued the following statement: “The mission team discussed with the new government its priorities and vision for economic development, as…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Managing Director Christine Lagarde on Egypt

The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an International Monetary Fund (IMF) financial arrangement

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today: “The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement. Since then, Egypt has made substantial progress as evident in the success achieved…

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) |

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 (IMF) Staff Concludes Visit to The Gambia

Forward-looking discussions focused on economic and financial policy commitments for the remainder of the SMP, which was extended through September 2018 to enable the completion of the program reform agenda

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. This mission will not result in a…