Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Staff Completes a Virtual Extended Credit Facility First Review Mission for São Tomé and Príncipe

The COVID-19 pandemic is expected to cause the economy to contract sharply by 6.5 percent this year

The COVID-19 pandemic is expected to cause a sharp real economic contraction of 6.5 percent in 2020 and raise large health and social needs; Program performance under the Extended Credit Facility (ECF) had a good start, but progress has been hampered by the pandemic and some policy slippages prior to…

Source: International Monetary Fund (IMF) |

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) |

Coronavirus - Seychelles: International Monetary Fund (IMF) Executive Board approves a US$31.2 Million Purchase in Emergency Assistance to Seychelles to address the COVID-19 Pandemic

The near-term economic fallout of the COVID19 pandemic is expected to be severe

The IMF approved Seychelles’ request for emergency financial assistance under the Rapid Financing Instrument (RFI) of about US $31.2 million; the near-term economic fallout of the COVID-19 pandemic is expected to be severe. Restriction in travel will hinder tourism and weaken fiscal and external positions, creating large additional financing needs;…

Source: International Monetary Fund (IMF) |

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) |

Coronavirus - Uganda: International Monetary Fund (IMF) Executive Board approves a US$491.5 Million Disbursement to Uganda to address the COVID-19 Pandemic

The authorities have timely scaled up health spending and put in place bold measures to help contain and mitigate the spread of the disease

The Ugandan economy is severely affected by the COVID-19 pandemic; to address the urgent balance-of-payments and fiscal needs, the IMF approved US$491.5 million emergency assistance for Uganda under the Rapid Credit Facility; the authorities have timely scaled up health spending and put in place bold measures to help contain and…

Source: International Monetary Fund (IMF) |

Coronavirus – Malawi: International Monetary Fund (IMF) Executive Board Approves a US$91 Million Disbursement under the Rapid Credit Facility for Malawi

The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has deteriorated significantly

The International Monetary Fund approved a disbursement of US$91 million under the Rapid Credit Facility to help Malawi meet the urgent balance of payment (BOP) needs stemming from the COVID-19 pandemic; The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has…

Source: International Monetary Fund (IMF) |

Coronavirus - Cabo Verde: International Monetary Fund (IMF) Executive Board approves a US$32 million disbursement to Cabo Verde to address the COVID-19 Pandemic

Increased support is needed from Cabo Verde’s development partners to scale-up health and social programs while preserving debt sustainability

Like many countries around the globe, Cabo Verde’s economy is significantly affected by the COVID-19 pandemic; to address the urgent balance of payment needs, the IMF Executive Board has approved financial assistance for Cabo Verde in the amount of US$32 million under the Rapid Credit Facility; the authorities have taken…

Source: International Monetary Fund (IMF) |

Coronavirus - Gambia: International Monetary Fund (IMF) Executive Board approves a US$21.3 million disbursement to The Gambia to address the COVID-19 Pandemic

The global COVID-19 pandemic is straining The Gambian economy, notably as international travel and tourism are halted

The COVID-19 pandemic is projected to lower growth of The Gambian economy to 2.5 percent in 2020; to address the urgent balance-of-payments need, the IMF Executive Board has approved financial assistance for The Gambia in the amount of US$21.3 million under the Rapid Credit Facility. The country will also benefit…

Source: International Monetary Fund (IMF) |

Coronavirus – Rwanda: International Monetary Fund (IMF) Executive Board Approves a US$109.4 Million Disbursement to Rwanda to address the COVID-19 Pandemic

The economic impact of the COVID-19 pandemic is rapidly unfolding, with the near-term outlook deteriorating quickly

The IMF approved the disbursement of US$109.4 million to be drawn under the Rapid Credit Facility; The economic impact of the COVID-19 pandemic is rapidly unfolding, with the near-term outlook deteriorating quickly; The authorities have acted fast by putting in place measures to help contain and mitigate the spread of…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Executive Board Completes Fourth Review Under the Policy Coordination Instrument for Seychelles

The 2019 economic growth is estimated to reach about 4 percent, reflecting strong output in the tourism and communication sectors

The implementation of the Seychelles’ economic program is largely on track; The 2019 economic growth is estimated to reach about 4 percent, reflecting strong output in the tourism and communication sectors; The near-to-medium-term economic outlook continues to be favorable, provided that the authorities maintain their prudent policies under the Policy…