Tag Archives: IMF

IMF Staff Completes Review Mission to Malawi

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

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Algeria continues to face important challenges posed by lower oil prices

IMF Staff Completes 2017 Article IV Mission to Algeria

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Tanzania: Report by Exotix and IMF reassures brighter economic outlook

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.”

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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)

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European Regulators Join African Banks to Discuss Economic and Financial Stability

Africa has witnessed a rapid expansion of cross-border banking, led by banking groups based in Africa that are spurring financial and economic integration and transforming the continent’s financial landscape. These institutions are occupying a space created by the retreat of several global bank groups from Africa in the wake of the crisis. African banks headquartered from Morocco to South Africa have each established business operations in at least 10 countries. Ecobank, headquartered in Togo—is present in more than 30 countries on the continent.

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IMF Staff Concludes Visit to Ghana

A team from the International Monetary Fund (IMF), led by Joël Toujas-Bernaté, visited Accra from February 6-10, 2017 to take stock of the 2016 economic developments and the outlook for 2017, engage in a dialogue about the new government’s economic plans, and discuss prospects for program engagement with the IMF. [1]

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IMF Statement on Tunisia

Mr. Björn Rother, IMF mission chief to Tunisia, made the following statement at the end of a staff visit to discuss the economic outlook and the authorities’ policy intentions under Tunisia’s economic reform program supported by a four-year IMF Extended Fund Facility (EFF) arrangement approved in May 2016 (See Press Release 16/238):

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Ghana Might Face Charges from IMF for Unaccounted GHC7 Billion

Ghana might face charges from International Monetary Fund (IMF) as the country’s economic figures seems fishy, says the new government. The new government, led by the Vice President had announced that the previous government – the National Democratic Party (NDC) has refused to account for a 7 billion Ghana Cedis which was spent during their term in government. However, the NDC government and the current minority in parliament, claims that the money was being used for an ongoing initiative on government contracts and expenditure which forms part of the Ghana Integrated Financial Management Information System. They furthered to express that it is of their expectation to see the current government continue that initiative.

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IMF Executive Board Completes First Review Under the Stand-By Arrangement and Standby Credit Facility Arrangement for Kenya

IMF Board approved completion of first review of Kenya’s economic program supported by the Stand-By Arrangement (SBA) and the Standby Credit Facility (SCF).

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IMF Concludes Article IV Mission to Cameroon

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:

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