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 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) |

Eritrea: International Monetary Fund (IMF) Staff completes 2019 Article IV Mission

Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy

The peace agreement with Ethiopia and lifting of international sanctions provide a welcome opportunity for Eritrea to build an impetus for economic development; Eritrea is in a difficult economic situation following an extended period of international isolation and emergency measures to manage the economy; the IMF stands ready to support economic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes Program Review Mission to Benin

Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity

Performance under the IMF-supported program was satisfactory in 2018; Benin’s economy grew by 6.7 percent in 2018 driven by strong agricultural production and port activity; the authorities should pursue their efforts to improve the business environment and infrastructure, strengthen the governance framework, diversify the economy, promote high-quality education and health,…

Source: International Monetary Fund (IMF) |

Statement at the end of an International Monetary Fund (IMF) Staff Review Mission to Tunisia

The authorities are aware of the risks weighing on the economy and are committed to containing fiscal and external imbalances in this election year

The Tunisian authorities and IMF staff have reached mutual understandings on most issues and agree that the authorities need some more time to fully flesh out their policy proposals in a few areas. Discussions will continue in Washington, DC, over the coming days; the authorities’ efforts to support growth by…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Program Negotiation Mission to São Tomé and Príncipe

Significant progress was made in the discussions on the economic policies and reforms that could be supported by a new IMF arrangement

São Tomé and Príncipe’s economy is experiencing strong imbalances and slower growth; Reversing large deficit spending of 2018 and implementing comprehensive structural reforms in energy and tourism sectors are needed to unleash the growth potential; Significant progress was made in the discussions on the economic policies and reforms that could…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to Cabo Verde

Cabo Verde’s external position strengthened in 2018 with the current account deficit narrowing to 4.5 percent of GDP

Fiscal consolidation efforts should continue to preserve gains made in recent years in strengthening public finances, and to support medium-term debt sustainability; continued progress in State-owned enterprises reforms is critical to reduce fiscal risks, support medium-term debt sustainability and economic growth. In this context, the recent privatization of the national…

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…

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) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to Mauritius

Mauritius faces the challenge of boosting inclusive economic growth while preserving fiscal sustainability, regaining external competitiveness, and maintaining financial integrity

Real GDP growth is projected at 3.8 percent in 2018 and 3.9 percent in 2019, driven by robust performance in the financial services, construction, and tourism sectors; Mauritius faces the challenge of boosting inclusive economic growth while preserving fiscal sustainability, regaining external competitiveness, and maintaining financial integrity; the mission welcomed…