International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Jun 15, 2023

International Monetary Fund (IMF) Staff Concludes Visit to Djibouti

Despite the decline in revenues from the slower economic activity and the shortfall of taxes on domestic fuel, the fiscal deficit narrowed to 1.4 percent of GDP in 2022

Economic growth moderated in 2022 amid international trade disruptions and the conflict in Ethiopia; Port activity started to rebound this year on the back of the peace agreement in Ethiopia, and a continued recovery is expected in 2023; Improving revenue collection, enhancing expenditure efficiency, and strengthening governance will help support…

Source: International Monetary Fund (IMF) | Feb 08, 2023

International Monetary Fund (IMF) Executive Board Concludes 2022 Article IV Consultation with Nigeria

Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities

On February 6, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Nigeria. Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities. Gross domestic product (GDP) adjusted for inflation has already…

Source: International Monetary Fund (IMF) | Mar 31, 2022

IMF Staff Concludes Visit to Chad

The new 36-month ECF arrangement, in an amount of SDR 392.56 million will help meet Chad’s large balance-of-payments and budgetary needs

The Chadian authorities and the staff of the International Monetary Fund (IMF) started discussions for the first review under the ECF-supported program approved on December 10. These discussions will continue in the coming days. Chad’s economic and financial situation was weaker than expected in 2021. Oil production was significantly lower…

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | Jan 12, 2022

IMF Executive Board Completes the 2021 Article IV Consultation and Fifth Review of the Policy Coordination Instrument for Rwanda

The PCI was approved on June 28, 2019 to facilitate macroeconomic and financial stability, while advancing an ambitious reform agenda under Rwanda’s National Strategy for Transformation (NST)

Rwanda’s economy has rebounded strongly in 2021, and the recovery is expected to continue in 2022, supported by strengthened vaccination efforts, a pickup in external demand, and accommodative macroeconomic policies. Nevertheless, with a high portion of the population still unvaccinated, risks about the path of the COVID-19 pandemic remain significant…

Source: International Monetary Fund (IMF) | Jan 11, 2022

IMF Executive Board Completes the Fourth Review Under the Policy Coordination Instrument and the First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Concludes the 2021 Article IV Consultation for Senegal

Senegal’s three-year PCI was approved on January 10, 2020

Recent indicators suggest that a strong recovery is underway, driven by industrial production, services, and retail activity. COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated. Performance under the program remains satisfactory. Concurrently with the PCI, the SCF/SBA arrangements are helping support the…

Source: International Monetary Fund (IMF) | Jul 30, 2020

Coronavirus - Lesotho: IMF Executive Board Approves US$49.1 million in Emergency Support to Lesotho to Address the Covid-19 Pandemic

The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming from the COVID-19 pandemic

The economic consequences of the COVID-19 pandemic in Lesotho have been severe, with a weak global and regional environment reducing exports and remittances; The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming…

Source: International Monetary Fund (IMF) | Jul 18, 2020

Coronavirus - Senegal: International Monetary Fund (IMF) Executive Board Completes First Review Under the Policy Coordination Instrument for Senegal

The COVID-19 pandemic is taking a heavy toll on Senegal’s economy

The COVID-19 pandemic is taking a heavy toll on the economy with growth projected at 1.1 percent in 2020 compared to 5.3 percent in 2019; The authorities have taken significant actions to contain the pandemic and mitigate its economic fallout, supported by additional financing from Senegal's development partners and participation…

Source: International Monetary Fund (IMF) | Jul 14, 2020

Coronavirus - Chad: International Monetary Fund (IMF) Staff Completes Discussions for an Additional US$68 Million Disbursement to Chad to Address the COVID-19 Pandemic

Chad’s economy has been severely impacted by the twin COVID-19 pandemic and terms of trade shocks

IMF staff completes discussions for a second disbursement under the Rapid Credit Facility (RCF) to help Chad address the economic challenges posed by the COVID-19 pandemic; Chad’s economy has been severely impacted by the twin COVID-19 pandemic and terms of trade shocks; The additional resources under the RCF will help…

Source: International Monetary Fund (IMF) | May 11, 2020

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…

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