International Monetary Fund (IMF) Reaches Staff-Level Agreement with Cabo Verde on a Resilience and Sustainability Facility and the Third Review under the Extended Credit Facility Arrangement

The IMF team and the Cabo Verdean authorities reached staff-level agreement on the policies needed to complete the third review under the ECF-supported program as well as on the request to access financial resources from the RSF

The IMF and Cabo Verde authorities reached a staff-level agreement on a request for access under the newly established Resilience and Sustainability Trust (approximately US$ 31.69 million) and the completion of the third review under the 36-month Extended Credit Facility; The authorities are taking important steps to strengthen the economic reform…

International Monetary Fund (IMF) Staff Completes 2020 Article IV Visit to the Kingdom of Lesotho

An International Monetary Fund (IMF) staff team, led by Joseph Thornton, visited Maseru from January 29 – February 11, 2020

In a context of policy uncertainty, the weak regional environment has depressed growth below the levels needed to reduce poverty and unemployment; High government spending should be refocused on areas that can have the biggest impact on delivering vital services, protecting the vulnerable, and supporting private sector growth; Reforms should…

Statement by International Monetary Fund (IMF) Deputy Managing Director Tao Zhang at the Conclusion of His Visit to Mozambique

The IMF stands ready to further strengthen its collaboration with the Mozambican authorities and help advance their reform agenda

Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), visited Mozambique during February 8­-11. At the conclusion of his visit, Mr. Zhang made the following statement: “It was a great privilege to visit Mozambique for the first time and learn firsthand of the opportunities and challenges facing…

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…

International Monetary Fund (IMF) Executive Board Concludes 2019 Article IV Consultation with Djibouti

The government has in recent years implemented large-scale investments to develop transport and logistics infrastructures

On September 30, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Djibouti. The government has in recent years implemented large-scale investments to develop transport and logistics infrastructures with the aim of positioning Djibouti as a regional trade and logistics hub. Combined with reforms to…

International Monetary Fund (IMF) Staff Completes Staff Visit Mission for São Tomé and Príncipe

The mission team discussed with the new government its priorities and vision for economic development

A staff team from the International Monetary Fund (IMF) led by Xiangming Li visited São Tomé and Príncipe during January 23-31, 2019. At the end of the visit, Ms. Li issued the following statement: “The mission team discussed with the new government its priorities and vision for economic development, as…

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…

Bridging South Africa’s Economic Divide

David Lipton / Witwatersrand University, Johannesburg

Thank you very much for your kind introduction and the warm welcome from the Witwatersrand community. It is a pleasure to be back in South Africa. Let me begin with a tribute to South Africa’s achievements. This country offers an extraordinary legacy of freedom and reason that is a model…

IMF Executive Board Concludes 2016 Article IV Consultation for Sierra Leone

On July 1, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the 2016 Article IV consultation1 with Sierra Leone. After a dozen years of strong growth, benefiting from both improved polices and booming commodity prices, Sierra Leone has been hit by twin shocks since mid-2014: the Ebola…

IMF Executive Board Concludes 2016 Article IV Consultation with South Africa

On July 1, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with South Africa. South Africa has made impressive economic and social progress in the past two decades. Yet, deep-rooted structural problems—infrastructure bottlenecks, skill mismatches, and harmful insider-outsider dynamics—are holding back growth and exacerbating…