Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV and Program Review Mission to Madagascar

An International Monetary Fund (IMF) mission led by Charalambos Tsangarides, mission chief for Madagascar, visited Antananarivo from November 11 to 25

IMF staff and the authorities reached staff-level agreement for the sixth program review, subject to approval by IMF management and the Executive Board; The implementation of the authorities’ program supported by the Extended Credit Facility (ECF) arrangement has remained satisfactory; The authorities’ plan to increase public investment and social spending…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Mozambique

The outlook for 2020 is for a strong rebound in economic activity and low inflation

An International Monetary Fund (IMF) staff team led by Ricardo Velloso visited Maputo during November 6–12, 2019, to take stock of recent economic developments and update macroeconomic projections. At the end of the mission, Mr. Velloso issued the following statement: “As a result of Tropical Cyclones Idai and Kenneth, real…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Niger

Fiscal policy is geared toward striking the difficult balance between attending to public needs and supporting macroeconomic stability

Implementation of the government’s reform program has been satisfactory despite a challenging environment; Economic growth is solid thanks to important large-scale projects. Ensuring that the local private sector benefits from them is central to improve living standards; Fiscal policy is geared toward striking the difficult balance between attending to public…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff conclude their 2019 Article IV Consultation Mission and the Fourth and Fifth Reviews of the Extended Fund Facility (EFF) arrangement in Gabon

It was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms

The economy is slowly recovering, but significant challenges still need to be addressed to generate stronger and more inclusive growth; it was agreed that generating stronger and more inclusive growth requires robust measures and far-reaching reforms to improve governance, increase domestic revenue mobilization, enhance the management and effectiveness of public…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

The financial sector remains healthy, reinforced by Bank of Uganda’s strong supervision

A delay in oil sector investments could weigh on economic growth which is currently trending at 6 percent; The government needs to identify concrete measures to offset revenue shortfalls in this year’s budget to safeguard its fiscal targets and prevent domestic arrears; The financial sector remains healthy, reinforced by Bank…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Nigeria

An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja

A slow economic recovery is continuing, inflation is falling, and external buffers are declining in the face of increased portfolio outflows; Elevated fiscal deficits rely on central bank financing, which complicates monetary policy; Action on a coherent and coordinated set of policies is urgently needed to reduce vulnerabilities and increase…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Negotiation Mission to São Tomé and Príncipe

São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth

Significant progress was made in the discussions with the government on the economic policies and reforms that could be supported by a new IMF arrangement; São Tomé and Príncipe’s economy is facing serious challenges and experiencing strong imbalances and sluggish growth. Improving the business environment to promote economic activities is…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes the Fourth Review Under the Extended Credit Facility Arrangement, Approves a US$ 47.0 Million Disbursement, and Concludes the 2019 Article IV Consultation with Niger

The formal local private sector needs strengthening to ensure sustainably higher living standards and provide jobs for Niger’s rapidly growing labor force

Program implementation as been broadly satisfactory with public finances strengthening as planned, progress with the implementation of the structural reform agenda, and some slippages in the clearance in domestic payment arrears. Economic growth strengthened in 2018 and the outlook is promising thanks to the start of several large-scale projects by…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Mission to Côte d’Ivoire

Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand

The authorities and the IMF team have reached a staff-level agreement on the fifth review of the ECF and EFF arrangements, subject to approval by IMF management and the Executive Board; Based on preliminary estimations, GDP grew by 7.4 percent last year driven by strong domestic demand. Inflation remained subdued…

Source: International Monetary Fund (IMF) |

IMF Staff Completes the Third Review Mission to Seychelles

Economic growth reached 4.1 percent, reflecting increased tourism earnings and stronger output in the fishing industry

Seychelles’ macroeconomic performance continued to be strong in 2018; economic growth reached 4.1 percent, the 2018 primary fiscal surplus stood at 3.2 percent of GDP; delays in the implementation of Air Seychelles’ restructuring plan could undermine government’s efforts to sustain strong fiscal primary surpluses and jeopardize medium-term public debt reduction…