Source: International Monetary Fund (IMF) |

IMF Reaches Staff-level Agreement with Guinea

The program will support Guinea’s 2016–20 National Social and Economic Development Plan to foster higher and more broad-based growth, and reduce poverty while maintaining macroeconomic stability and debt sustainability

IMF staff and Guinean authorities have reached a staff-level agreement on a program of economic policies and reforms that could be supported by an Extended Credit Facility (ECF) arrangement. The program will support Guinea’s 2016–20 National Social and Economic Development Plan to foster higher and more broad-based growth, and reduce…

Source: International Monetary Fund (IMF) |

Islamic Republic of Mauritania: Discussions continue on an IMF-supported economic program

An IMF mission headed by Mr. Eric Mottu visited Nouakchott from September 25 to October 6, 2017 to continue the discussions, initiated in February 2017, on an economic and financial program that could be supported under the Fund’s Extended Credit Facility (ECF)

The Mauritanian authorities and the IMF mission have made considerable progress in discussions on an economic program that could be supported by the IMF. These discussions will continue next week in Washington, on the sidelines of the IMF Annual Meetings. An IMF mission headed by Mr. Eric Mottu visited Nouakchott…

Source: International Monetary Fund (IMF) |

Statement at the end of an IMF Mission to the Republic of Congo

The IMF team was received by President Denis Sassou-Nguesso

An IMF staff team headed by Abdoul Aziz Wane visited Brazzaville from September 25 to October 4, 2017 to collect information, including to reassess the country’s debt, discuss cash management with the authorities, and conduct a scoping for a diagnostic study on governance issues in the Republic of Congo. At the…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Review Visit to the Central African Republic

IMF staff team and authorities reached broad agreement on policies which could form the basis for completing the third review. Restoration of peace, redeployment of the state, and implementation of reforms will be key to ensure sustainable economic recovery. The team encouraged the authorities to intensify revenue mobilization efforts, while…

Source: International Monetary Fund (IMF) |

IMF Staff Team Completes Mission to Côte d’Ivoire

Fiscal deficit is expected to decrease to 3.75 percent of GDP in 2018 and eventually converge to the WAEMU regional deficit norm of 3 percent of GDP by 2019

Staff-level agreement was reached with the authorities on the second review under ECF and EFF arrangements, subject to approval by IMF management and the Executive Board. Despite the fall in cacao prices, strong economic performance continued in 2017 and the medium-term outlook remains strong. Fiscal deficit is expected to decrease…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV and ECF Review Mission to Guinea-Bissau

Real GDP growth for 2017 is now projected at 5.5 percent, with inflation around 2 percent and a broadly balanced external current account

The government’s economic program supported by the IMF is broadly on-track and the mission was able to reach understandings, ad referendum, on policies needed to conclude the fourth ECF review. The discussions in the context of Article IV consultation focused on key medium-term priorities, including actions to durably reinforce public…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Sierra Leone

The current account deficit is expected to widen to 21.5 percent of GDP

Mission and authorities reached a common understanding of the challenges and risks associated with macroeconomic performance for the rest of 2017 and have made some progress in discussions on how to address those. Discussions aimed at completing the review will continue in the coming weeks, including during the upcoming Annual…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to Sudan

A team from the International Monetary Fund (IMF) led by Daniel Kanda visited Khartoum from September 13–September 26 to hold discussions on the 2016 Article IV Consultation with Sudan

Economic conditions in Sudan remain challenging in the face of persistent fiscal deficits, high inflation, and economic sanctions. The economic outlook hinges on implementing bold and broad-based reforms to stabilize the economy and strengthen growth.  The expansion of social safety nets to support the most vulnerable and reforms to improve…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to the Seychelles

An International Monetary Fund (IMF) staff mission led by Mr. Amadou Sy visited Victoria during September 13‒26, 2017

The IMF team reached a staff level agreement with the authorities on their economic program that could be supported by a new 3-year IMF arrangement under the Policy Coordination Instrument.  The authorities have implemented prudent macroeconomic policies together with bold structural reforms that led to strong economic growth as well as noticeable improvement…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to the Federal Republic of Ethiopia

Real gross domestic product (GDP) is estimated to have increased by 9 percent in 2016/17

Real gross domestic product is estimated to have increased by 9 percent in 2016/17. Prudent budget execution led to a lower-than-planned fiscal deficit, estimated at 2.5 percent of GDP. To complement the restrictive fiscal stance, monetary policy should also be tightened. An International Monetary Fund (IMF) staff team led by…