Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2019 Article IV Mission to the Democratic Republic of the Congo

The mission thanks the Congolese authorities for their hospitality, openness, and cooperation

Non-mining growth is projected to more than double in 2019, but total GDP growth will decelerate based on the assumption of a slowdown in mining activity; Stronger revenue mobilization is needed to enhance spending on infrastructure; Reducing regulations, simplifying tax payments, and improving governance should help to foster private sector…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes 2019 Article IV Mission to Namibia

Immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits

The economy will continue to mildly contract this year and recover gradually thereafter; immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits; structural reforms are needed to strengthen productivity and competitiveness, lift business confidence, and boost the long-term growth potential of the economy. An International…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2019 Article IV Mission to Namibia

An International Monetary Fund (IMF) staff team led by Mr. Geremia Palomba, IMF Mission Chief for Namibia, visited Windhoek during May 22-June 4, 2019

The economy will continue to mildly contract this year and recover gradually thereafter; Immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits; Structural reforms are needed to strengthen productivity and competitiveness, lift business confidence, and boost the long-term growth potential of the economy. An International…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff concludes visit to South Africa

Robust actions are needed to reduce the fiscal deficit and reverse the increase in public debt

South Africa’s subdued economic growth could be reignited if the pace of structural reform implementation accelerates; robust actions are needed to reduce the fiscal deficit and reverse the increase in public debt; the government has a renewed opportunity to press ahead with policies to further strengthen governance, encourage competition, increase…

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) |

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 2019 Article IV Consultation Mission to Mozambique

Despite the likely adverse macroeconomic effects of Cyclone Idai in 2019, which are still being analyzed, the outlook is for a recovery in economic activity over the medium-term

While it is still early to precisely assess the macroeconomic effects of Cyclone Idai and reconstruction costs, these will be very significant; Despite the likely adverse macroeconomic effects of Cyclone Idai in 2019, which are still being analyzed, the outlook is for a recovery in economic activity over the medium-term;…

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) |

IMF Executive Board Concludes Regional Consultation with West African Economic and Monetary Union

Economic activity remains strong with subdued inflation

On March 18, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the regional consultation1 with WAEMU. Background Economic activity remains strong with subdued inflation. Despite adverse terms-of-trade shocks and security concerns in some member-countries, real GDP growth is estimated to have exceeded 6 percent for the 7th consecutive year…

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,…