Source: International Monetary Fund (IMF) |

Somalia - Statement by an IMF Mission on Somalia

An International Monetary Fund (IMF) mission led by Mohamad Elhage visited Nairobi from September 21–27 for a staff visit

An International Monetary Fund (IMF) mission led by Mohamad Elhage visited Nairobi from September 21–27 for a staff visit to discuss with the Somali authorities’ recent developments, progress under the Staff-Monitored Program (SMP), and Somalia’s economic outlook. At the end of the visit, Mr. Elhage issued the following statement: “Since…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Sierra Leone

Sierra Leone: IMF Staff Completes Review Mission to Sierra Leone

An International Monetary Fund (IMF) mission led by John Wakeman-Linn visited Freetown during September 14-27, 2016 to conduct the sixth and final review under the Extended Credit Facility (ECF).[1] At the conclusion of the visit, Mr. Wakeman-Linn issued the following statement: “Sierra Leone’s economic reforms over the last three years…

Source: International Monetary Fund (IMF) |

IMF Statement on Mozambique

The Managing Director welcomed the initial steps being taken on the agreed reforms and policies

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), issued the following statement today: “The IMF’s Managing Director Christine Lagarde and Mozambique’s President Filipe Nyusi met today to discuss the economic challenges that the country is facing. The Managing Director welcomed the initial steps being taken on…

Source: International Monetary Fund (IMF) |

IMF Launches Japan-Funded Project to Improve External Sector Statistics in Central and West African Countries

Representatives of the Central Bank of West African States (BCEAO) and of the Bank of Central African States (BEAC) also participated in the workshop.

The International Monetary Fund (IMF) launched on August 29, 2016 a three-year capacity development project to improve the external sector statistics in Central and West Africa. Introduced at the African Training Institute (ATI) in Mauritius, this project has been made possible by the generous support of the Government of Japan.…

Source: International Monetary Fund (IMF) |

IMF Statement on Ghana, Attributable to Joel Toujas-Bernate, IMF Mission chief for Ghana

Discussions between staff and the authorities are currently ongoing to update macroeconomic projections

IMF Statement on Ghana, Attributable to Joel Toujas-Bernate, IMF Mission chief for Ghana: “A visiting IMF Staff team in Accra last May assessed the implementation of the program to be broadly satisfactory and identified a few areas where further work and discussions were needed before the third review under the ECF-supported…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff-Level Agreement with Egypt on a Three-Year US$12 Billion Extended Fund Facility

In response to a request from the Egyptian authorities, an International Monetary Fund (IMF) mission led by Mr. Chris Jarvis visited Cairo from July 30 to August 11, 2016 to discuss support for the authorities’ economic reform program through IMF financial assistance

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) |

IMF Executive Board Approves US$304.7 million Extended Credit Facility Arrangement for Madagascar

The Executive Board was also informed about the Managing Director’s approval of the first and final review under the six-month Staff-Monitored Program (SMP) covering the period from September 2015 up to the end of March 2016

On July 27, 2016 the Executive Board of the International Monetary Fund (IMF) approved the equivalent of SDR 220 million (about US$304.7 million, or 180 percent of current quota) under a 40-month Extended Credit Facility (ECF) arrangement for Madagascar, to help reinforce macroeconomic stability and boost sustainable and inclusive growth.…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes Annual Discussions on CEMAC Countries’ Common Policies

Growth is projected to be 1.9 percent in 2016, as oil production and investment remain sluggish

On July 13, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the annual discussions on Common Policies and Challenges of Member Countries with the Central African Economic and Monetary Community (CEMAC).[1] CEMAC growth was subdued in 2015. It slowed to 1.6 percent, from 4.9 percent in 2014, because of reduced public investment and lower oil…

Source: International Monetary Fund (IMF) |

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…