Tag Archives: economy
The economy of Democratic Republic of Congo (DRC) is losing 1,637 billion Congolese francs, or more than a billion dollars a year, to the effects of child undernutrition. This is equivalent to as much as 4.5 percent of Gross Domestic Product (GDP).*
- 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 in program implementation should be strengthened via timely enactment of the reforms.
A staff team from the International Monetary Fund (IMF), led by Norbert Toé, visited Benin from June 7–14, 2017, to review recent economic and financial developments and discuss program implementation ahead of a formal review slated for later this year.
Zambia’s economy is looking bright after the recent IMF visit to the country to further discussions on the 2017 Article IV consultation. The country has grown in foreign investors towards Zambia’s government securities market and also a good climatic condition – marked by moderate rainfall to support the agricultural sector. The country has also requested for an IMF-Supported program. According to the IMF team, the Zambian economy has witnessed a positive growth which could possibly allow the country to be supported by IMF’s Extended Credit Facility (ECF). The ECF provides financial assistance to countries with protracted balance of payments problems. As it stands now, the IMF seeks to reach more understanding of the country and based on that grant Zambia’s ECF request.
Report from UK-based Exotix Partners in collaboration with the Kenya-based Equity Investment Bank have it that Tanzania has a bright economic outlook – adding up to IMF economic forecast for Tanzania. The report highlights that the current anti-corruption and anti-tax evasion drive by the President, HE John Magufuli, might look disruptive in the short term but will do the country a greater favour in the long term. The report said “this reformist agenda has proved painful but should these policy actions be sustained they could act as a long-term positive catalyst for the efficiency of Tanzania’s public sector institutions.”
YAOUNDE, Cameroon, May 15, 2013/African Press Organization (APO)/ – An International Monetary Fund (IMF) mission, led by Mr. Mario de Zamaróczy, visited Cameroon during April 29–May 14, 2013 to conduct the 2013 Article IV Consultation. The mission met with Prime Minister Philémon Yang, Minister Secretary General at the Presidency Ferdinand Ngoh Ngoh, Minister of Finance Alamine Ousmane Mey, Minister of Economy, Planning, and Territorial Development Emmanuel Nganou Djoumessi, several other ministers, the Vice Governor and the National Director of the Bank of Central African States (BEAC), other senior officials, and representatives of the private sector, labor unions, civil society organizations, and development partners. The discussions focused on recent economic and financial developments, the 2013 budget, and the economic outlook for 2013 and beyond. At the end of the mission, Mr. de Zamaróczy issued the following statement: