Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to the Republic of Equatorial Guinea

Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake

The country needs to reduce macroeconomic imbalances to more sustainable levels and restore economic growth in order to preserve macroeconomic stability. Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake. To preserve macroeconomic stability…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Ninth Review under Malawi’s ECF Arrangement and Approves US$ 26.9 Million Disbursement

eal GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output

The program is aimed at macroeconomic stability, growth, economic diversity and reduced poverty. Real GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output. The macroeconomic outlook remains challenging, reflecting uncertainties related to adverse weather conditions and policy slippages. The Executive Board of the…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2017 Article IV Consultation with Seychelles

Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector

On June 2, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Seychelles.   Macroeconomic performance continued to be strong in 2016. Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector.…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$642 Million Extended Arrangement Under the Extended Fund Facility (EFF) for Gabon

On June 19, 2017, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Gabon for SDR 464.4 million (about US$642 million), or 215 percent of Gabon’s quota, in support of the authorities’ medium-term recovery program.  Today’s Executive Board’s decision enables an immediate…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Reviews Under the ECF and Extended Arrangements for Côte d’Ivoire and Approves US$133.8 Million Disbursement

Côte d’Ivoire’s performance under its Fund-supported program has been satisfactory

The country’s economic outlook remains strong, with growth projected at about 7 percent in 2017–19. Completion of the review enables the disbursement of $134 million. The ECF/EFF-supported programs aim at supporting the authorities’ efforts to achieve a sustainable balance of payments, inclusive growth, and poverty reduction. On June 19, 2017, the…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to Swaziland

Swaziland’s key challenge going forward is to preserve macroeconomic stability against low SACU revenue and sustain growth to make inroads in reducing high unemployment and income inequality

The IMF estimates 2016 growth to stagnate, with a muted recovery envisaged in 2017, as the weaker fiscal position weighs heavily on the outlook. Significant fiscal adjustment is needed to ensure macroeconomic stability and debt sustainability. Structural reforms to address the lack of skilled workers, simplify business regulations, and strengthen…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Benin

The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards

The economy grew by 4 percent in real terms in 2016, overcoming the low-growth environment that resulted from negative spillovers from Nigeria. The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards. IMF staff and the authorities agreed that the early progress…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Review under the Extended Fund Facility (EFF) Arrangement with Tunisia

To achieve a growth-friendly and socially-conscious fiscal consolidation, it will be critical to implement the 2018 tax package and the new Large Taxpayers Unit, which will both increase tax fairness

The government’s reform program supported by the EFF aims at reducing the fiscal deficit to stabilize public debt below 70 percent of GDP by 2020 while raising investment and social spending. Monetary tightening and greater exchange rate flexibility will help contain inflation, improve competitiveness, and preserve international reserves. To achieve…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Zambia

The near-term outlook for the economy has improved in recent months, driven by good rains and positive sentiments in the financial markets as evidenced by increased foreign investor participation in the government securities market

An International Monetary Fund (IMF) staff team led by Tsidi Tsikata visited Zambia during May 31-June 10, to continue discussions on the 2017 Article IV consultation and the authorities’ request for an IMF-supported program. At the end of the visit, Mr. Tsikata issued the following statement: “IMF staff and the…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$224.2 Million Under the ECF Arrangement for Sierra Leone

Under the program, inflation is expected to fall to 12 percent by end-2017, further declining to 9.5 percent in 2018 and narrowing by about 0.5 percent each year thereafter

The Executive Board’s decision will enable a first immediate disbursement of SDR39.166 million (about US$54.3 million). Growth is expected to reach 7 percent in the medium-term. Under the program, inflation is expected to fall to 12 percent by end-2017, further declining to 9.5 percent in 2018 and narrowing by about…