Tag Archives: IMF
Fiscal deficit is expected to decrease to 3.75 percent of GDP in 2018 and eventually converge to the WAEMU regional deficit norm of 3 percent of GDP by 2019
The current account deficit is expected to widen to 21.5 percent of GDP
- Economic conditions in Sudan remain challenging in the face of persistent fiscal deficits, high inflation, and economic sanctions.
- The economic outlook hinges on implementing bold and broad-based reforms to stabilize the economy and strengthen growth.
- The expansion of social safety nets to support the most vulnerable and reforms to improve the business environment to engender strong, broad-based growth are critical.
A team from the International Monetary Fund (IMF) led by Daniel Kanda visited Khartoum from September 13–September 26 to hold discussions on the 2016 Article IV Consultation with Sudan. At the conclusion of the visit, Mr. Kanda issued the following statement:
- The IMF team reached a staff level agreement with the authorities on their economic program that could be supported by a new 3-year IMF arrangement under the Policy Coordination Instrument.
- The authorities have implemented prudent macroeconomic policies together with bold structural reforms that led to strong economic growth as well as noticeable improvement in fiscal and external position as well as a reduction in debt.
- Macroeconomic performance has been robust in 2017, with economic growth for 2017 projected to reach around 4 percent.
An International Monetary Fund (IMF) staff mission led by Mr. Amadou Sy visited Victoria during September 13‒26, 2017. The mission reached a staff level agreement with the Seychellois authorities on their economic program which could be supported by a new 3-year IMF arrangement under the Policy Coordination Instrument (PCI) . Subject to IMF management approval, the staff-level agreement is expected to be submitted to the IMF Executive Board for its consideration in December 2017. Under the arrangement, Seychelles economic program would be subject to semi-annual reviews.
Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves
Real gross domestic product (GDP) is estimated to have increased by 9 percent in 2016/17
On September 1, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation  with the Kingdom of Swaziland.
An International Monetary Fund (IMF) staff team, led by Corinne Deléchat, visited Yaoundé during August 22–29, 2017 to review recent economic developments and discuss the 2018 budget and medium-term budget framework.
- Significant progress was made in discussions of the economic policies and reforms that could be supported by a new IMF arrangement
- Real growth is expected to 6.7% in 2017 supported by dynamic activity in the mining and construction sectors and good agricultural performance;
- Average inflation would remain moderate at 8.5 percent in 2017.
An International Monetary Fund (IMF) mission led by Giorgia Albertin visited Conakry from July 31 to August 15, 2017 to negotiate a new program that could be supported by an Extended Credit Facility (ECF).
Growth declined to 3.8 percent in 2016 and is now projected to edge up to 4.7 percent in 2017, mainly on account of a surge in coal production and exports
IMF Executive Board Completes First Review under the Extended Fund Facility (EFF) with the Arab Republic of Egypt
The completion of the review allows the authorities to draw the equivalent of SDR 895.48 million (about US$1.25 billion), bringing total disbursements to SDR 2,865.53 million about US$4 billion
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 with Seychelles.
- 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 the institutional environment have the potential to boost investment and employment.
An International Monetary Fund (IMF) staff team led by Mr. Geremia Palomba visited Mbabane from June 7-19, 2017, to conduct the 2017 Article IV Consultation discussions with Swaziland.
- 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.