Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund Deputy Managing Director Tao Zhang on Angola

Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today: “We have received a letter from the Angolan authorities for IMF staff to initiate discussions on an economic program that could be supported by the Extended Fund Facility (EFF). “The request follows an…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Mozambique

An International Monetary Fund (IMF) staff team led by Ricardo Velloso visited Maputo during July 25–August 3, 2018

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. This mission will not result in a…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth accelerating to 5.7 percent in the first quarter of 2018, from 4.9 percent in 2017

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) |

Egypt Moving Forward: Key Challenges and Opportunities

Over the next five years, around 3.5 million young Egyptians are projected to join the labor force

The most important issues that face Egypt over the coming years are tied to a rapidly growing population, the modernization of its economy, and how best to ensure a modern social safety net to protect the most vulnerable in society. Below, IMF Mission Chief for Egypt Subir Lall discusses these…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Nigeria

The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term

Higher oil prices and portfolio flows have helped strengthen fiscal and external buffers; The outlook for 2018 remains challenging, as private sector lending remains low and foreign exchange inflows are mostly short-term; Action on a coherent set of policies to reduce vulnerabilities and increase growth over the medium term remains…

Source: International Monetary Fund (IMF) |

International Monetary Fund Executive Board Completes Fourth Review Under the Extended Credit Facility

Arrangement for the Central African Republic and Approves US$ 32.1 Million Disbursement

Completion of the review enables a disbursement of US$ 32.1 million Program implementation has been satisfactory in a difficult context. Restoring peace and speeding the implementation of the development agenda are key to sustain the economic recovery and reduce poverty. Improving domestic resource mobilization is crucial for the scaling up…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Completes Second Review of Staff Monitored Program with The Gambia

Economic recovery is well underway and the outlook is favorable, albeit contingent on continued adherence to the policy reform agenda

Economic recovery is well underway with growth estimated at 3.5 percent in 2017. Implementation of the Staff-Monitored Program remains broadly satisfactory. The Gambia’s public debt is unsustainable, with the debt-to-GDP ratio reaching nearly 130 percent of GDP in 2017. On June 18, 2018, the Managing Director of the International Monetary…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Statement on Tunisia

Completion of the review would make available SDR 177 million (about US$257 million), bringing total disbursements under the EFF to about US$1.2 billion

The Tunisian authorities and the IMF team have made significant progress in the discussions on the policies needed to complete the Third Review. The Tunisian economy showed signs of recovery in the first quarter of 2018, with the highest growth since 2014 supported by agriculture and exports. Risks to macroeconomic…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

Monetary policy targets core inflation of 5 percent

An IMF team led by Axel Schimmelpfennig visited Kampala May 15‒28, 2018 to continue discussions for a 3-year non-financial Policy Coordination Instrument. The mission met with President Museveni, Minister Kasaija, Governor Tumusiime-Mutebile, Permanent Secretary/Secretary to the Treasury Muhakanizi, members of parliament, private sector representatives, and senior government officials. The mission…

Source: International Monetary Fund (IMF) |

International Monetary Fund Executive Board Completes First Review of the Arrangement Under the Extended Credit Facility with the Islamic Republic of Mauritania

The economy is recovering, with growth estimated at 3.5 percent in 2017 and projected at 3 percent in 2018

Policy implementation has been satisfactory and the program is on track. The Board’s decision enables immediate disbursement of US$ 23.5 million to Mauritania. The economy is recovering, with growth estimated at 3.5 percent in 2017 and projected at 3 percent in 2018. The outlook is positive, although considerable challenges remain to achieve…