Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Zambia

The mission projects real GDP growth in Zambia to improve slightly from about 3 percent last year to 3.5 percent this year, reflecting good rains which are expected to boost agricultural output and domestic electricity generation

Fund staff and Zambian authorities made progress regarding economic program that could be supported by an IMF arrangement Economic growth is expected to improve slightly to 3.5 percent in 2017. Sustaining high inclusive growth in the future requires sound policies & reforms to improve competitiveness. IMF team welcomed the government’s fiscal…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2016 Article IV Consultation with the Republic of South Sudan

Directors noted that South Sudan is in debt distress despite moderate levels of external debt due to the combined impact of a civil war, decline in oil prices and high levels of fiscal spending

On March 15, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with the Republic of South Sudan. South Sudan faces enormous economic and humanitarian challenges in the aftermath of internal conflict and external shocks. The relapse into violence a few months after forming…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to Madagascar for 2017 Article IV and First ECF Review

A team from the International Monetary Fund (IMF) led by Marshall Mills, Mission Chief for Madagascar, visited Antananarivo from March 9–22, 2017 to conduct the 2017 Article IV Consultation and hold discussions on the first review of Madagascar’s economic reform program supported by the IMF’s three-year Extended Credit Facility (ECF)

Madagascar’s recent economic performance has been encouraging, with GDP growth reaching 4.2 percent in 2016 In the medium-term, the authorities aim to break Madagascar’s pattern of low growth by scaling up priority spending and accelerating structural reform. The authorities continue to make progress in strengthening the legal and institutional framework…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Review Mission to Malawi

A team from the International Monetary Fund (IMF), led by Oral Williams, visited Lilongwe from March 8–23, 2017, to conduct discussions on the ninth and final review under the Extended Credit Facility (ECF) arrangement

A second consecutive year of the El Niño-induced drought created an unprecedented humanitarian crisis that placed an estimated 6.7 million people—or 40 percent of the population—at risk of food insecurity IMF and development partners intervention helped stabilize maize prices and alleviated the adverse impact of the drought on the vulnerable…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Mission to Algeria

Overall economic activity was resilient, but growth in the nonhydrocarbon sector slowed under the effects of spending cuts and is estimated at 3.4 percent in 2016

Algeria continues to face important challenges posed by lower oil prices. Efforts to adjust to the oil price shock are underway. The authorities achieved a notable reduction in the fiscal deficit in 2016 and are seeking to reshape the country’s growth model. Fiscal consolidation will need to be sustained as…

Source: International Monetary Fund (IMF) |

IMF Staff concludes 2017 Article IV Mission to Mauritania and Launches Discussions on an IMF Supported Program

An International Monetary Fund (IMF) team led by Mr. Eric Mottu, visited Nouakchott from February 28 to March 13, 2017 to hold discussions on the 2017 Article IV consultations with the Mauritanian authorities

The IMF team and the authorities held constructive discussions on a Mauritanian economic and financial program for 2017-20 that could be supported by an arrangement under the IMF’s Extended Credit Facility. The authorities have consistently adapted their economic policies to take account of the difficult conditions they’ve faced over the…

Source: International Monetary Fund (IMF) |

IMF Staff Finalizes 2017 Article IV Consultation with the Republic of Congo and Initiates Discussions on a Possible IMF-Supported Financial Arrangement

An IMF staff team headed by Abdoul Aziz Wane visited Brazzaville from February 20 to March 8, 2017 to initiate discussions toward a possible financial arrangement that could be supported by the IMF, and finalize the discussions on the 2017 Article IV consultation

The team made significant progress in assessing the authorities’ policies for 2017 and the medium term, and their implications for fiscal sustainability and external stability. The authorities aim to strengthen the Republic of Congo’s buffers, in line with the regional objective to safeguard external stability. Discussions will continue in the…

Source: International Monetary Fund (IMF) |

IMF Staff Initiates Discussion with Cameroon on an Economic Program Supported by the Fund

An International Monetary Fund (IMF) team, led by Ms. Corinne Deléchat, visited Yaoundé from February 20–March 6, 2017, to hold discussions toward a three-year economic and financial program for Cameroon

 IMF team and Cameroonian authorities discussed an economic program that would lay out a path to sustained economic recovery and higher, more inclusive growth  The team and authorities discussed measures to enhance the business environment to boost private sector investment and economic diversification  Discussions will continue to reach an understanding…

Source: International Monetary Fund (IMF) |

IMF Staff Initiates Discussions with Gabon toward a Possible Financial Arrangement

An IMF team headed by Alex Segura-Ubiergo visited Libreville from February 14-28 to initiate discussions toward a possible financial arrangement under the Extended Fund Facility (EFF)

Gabon’s medium-term economic prospects remain strong thanks to recent efforts to diversify the economy and attract investment in strategic sectors. Staff encouraged the authorities to continue to pursue this strategy, which would help the economy become more resilient to shocks and less dependent on its oil sector. Government’s intentions to…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to The Gambia

The mission met with President Adama Barrow, Minister of Finance Amadou Sanneh, Central Bank Governor Amadou Colley, other government officials, development partners, and the private sector

An International Monetary Fund (IMF) team, led by Mr. Ulrich Jacoby, visited The Gambia from February 16-22, 2017, to hold discussions with the new government, which came into office in early 2017. At the end of the visit, Mr. Jacoby issued the following statement: “Discussions centered around economic developments and…