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…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes 2017 Article IV Visit to Botswana

Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19

Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19. Fiscal projections envisage moderate deficits this year and the next, with surpluses thereafter. Tax revenue reforms need to be accelerated to protect public finances against any adverse developments and maintain the country’s track…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth reaching 5.9 percent in the first three quarters of 2016, up from 5.6 percent in 2015

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) |

Commodities, Rainfall, Instability Biggest Challenges —African Ministers

Rising inflation, drops in currency due to political instability Low commodity prices adding to fiscal pressures Help from international community “paramount” Low commodity prices, climate change, and insecurity are forcing many countries to make significant fiscal adjustments, African finance ministers said during the IMF-World Bank Spring Meetings in Washington D.C.…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Seychelles

An International Monetary Fund (IMF) staff mission led by Wendell Samuel visited Victoria during March 9‒22, 2016 to conduct discussions on the fourth review under the Extended Fund Facility (EFF)1 arrangement with Seychelles. At the conclusion of the visit, Mr. Samuel issued the following statement: “Macroeconomic outcomes in 2015 were positive…