IMF Reaches Staff Level Agreement on the Sixth Review for Niger’s Extended Credit Facility Arrangement

“The authorities’ COVID-19 response plan largely contained the pandemic and helped alleviate its socio-economic impact. Economic growth is projected to recover, but uncertainty remains high owing to the global economic outlook.”

via IMF

IMF Staff Completes Review Mission to Côte d’Ivoire

“The country has been hit hard by the COVID-19 pandemic. Thanks to the authorities’ swift response and the support of the international community including the IMF, the economic impact has been contained and growth, while significantly lower than initially forecasted, is projected to remain positive at 1.8 percent this year.”

via IMF

The IMF Executive Board Extends Immediate Debt Service Relief for 28 Eligible Low-Income Countries for Another Six Months

“Relief on debt service will free up scarce financial resources for vital emergency medical and other relief efforts while these members combat the impact of the COVID-19 pandemic.”

via IMF

IMF Executive Board Approves an Additional US$101.96 Million Disbursement under the Rapid Credit Facility for Malawi to Address the COVID-19 Pandemic

“The additional IMF financing will help fill part of the resulting increased external financing gap and provide the fiscal space needed to address critical spending needs. The authorities are committed to transparency and accountability to ensure that the RCF resources are used appropriately.”

via IMF

IMF Staff Issues an Interim Performance Update to the Board on Rwanda’s Policy Coordination Instrument

“The heavy toll of the COVID-19 pandemic has pushed the fiscal targets for end-June 2020 out of reach and hampered progress in advancing the reform targets agenda. Going forward, the authorities need to implement measures to ensure a growth-friendly fiscal consolidation to safeguard debt sustainability as soon as the crisis abates.”

via IMF

IMF Reaches a Staff-Level Agreement for the First Review of the Extended Credit Facility for Somalia

“Flooding and swarms of desert locusts have aggravated the challenges of the COVID-19 pandemic for Somalia. Swift support from the international community is helping the authorities address the impact on the Somali people and the economy.”

via IMF

IMF Board Endorses Staff-Monitored Program for Sudan

“The Executive Board endorsed Sudan’s Staff-Monitored Program as meeting the Upper Credit Tranche Conditionality standard. The government requested the program to establish a strong track record of policy and reform implementation—a key requirement for eventual debt relief.”

via IMF

Digital Solutions for Small Businesses in the Middle East and North Africa

“Digital technologies present new opportunities for SMEs to achieve faster growth. Emerging technologies and broadband internet can facilitate operational efficiencies, innovation, access to markets and finance, and can enable firms to operate remotely during lockdowns. The flexibility of remote working can help integrate women and youth in the labor market.”

via IMF

Angola: Confronting the COVID-19 Pandemic and the Oil Price Shock

“The government of Angola recently approved a prudent supplementary budget for 2020 using a conservative oil reference price. It has also introduced a comprehensive set of fiscal and monetary measures to support economic activities.”

via IMF

IMF Executive Board Completes the Third Review of Angola’s Extended Arrangement Under the Extended Fund Facility and Augments Disbursement to Address the Impact of COVID-19

“The Executive Board of the IMF today completed the third review of Angola’s economic program supported by an extended arrangement under the Extended Fund Facility. Completion of this review unlocks access to SDR 731.7 million (about US$1 billion), bringing total disbursements under the extended arrangement to SDR 1,804.7 million.”

via IMF