News & Analysis: 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

IMF Approves Augmentation and US$52 Million Disbursement for Mauritania

“The COVID-19 pandemic continues to impose severe health, social, and economic hardships in Mauritania, with a 3.2 percent contraction of output expected in 2020. The IMF’s support will provide resources to mitigate the pandemic’s socio-economic impact and continue with institutional reforms to foster an inclusive recovery.”

via IMF

Rwanda Harnesses Technology to Fight COVID-19, Drive Recovery

“In a conversation with IMF Country Focus, Rwanda’s Minister of State in Charge of National Treasury Richard Tusabe explains how his government is leveraging technology and grass-roots networks to fight the spread of COVID-19 and ensure financial support for households and businesses.”

via IMF

South Africa Looks Toward Inclusive Recovery to Stabilize Debt, Boost Growth

“In a conversation with IMF Country Focus, the Director-General of South Africa’s National Treasury Dondo Mogajane explains how the government has responded to the COVID-19 crisis, how IMF financing will help to stabilize the economy, and strategies for addressing debt and spurring growth.”

via IMF

IMF Executive Board Approves a US$152.61 Million Disbursement Under the Rapid Financing Instrument to Gabon to Address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund today approved a purchase of $152.61 million [to Gabon]. This is the second purchase under the Rapid Financing Instrument to Gabon since the onset of the pandemic. It aims at helping Gabon in meeting its urgent balance of payments needs.”

via IMF

IMF Executive Board Approves an Additional US$171.9 Million Disbursement Under the RCF to Madagascar to Address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund today approved the disbursement of $171.9 million to the Republic of Madagascar… This is the second emergency disbursement since the onset of the pandemic and will help finance the country’s urgent balance of payments and fiscal needs.”

via IMF

South Africa gets $4.3bn IMF loan. In return, the country must reform

“The country’s $4.3-billion (R70-billion) loan from the IMF is payable over a period of five years at an interest rate of 1.1%… In its report to the country, the IMF has warned that the government should urgently implement the reforms as set out in the supplementary budget.”

via Mail & Guardian

IMF Executive Board Approves US$49.1 million in Emergency Support to Lesotho to Address the COVID-19 Pandemic

“The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming from the COVID-19 pandemic.”

via IMF

IMF Executive Board Approves US$110.4 Million in Emergency Support to The Kingdom of Eswatini to Address The COVID-19 Pandemic

“The Executive Board of the International Monetary Fund approved the Kingdom of Eswatini’s request for emergency financial assistance of SDR78.5 million (about US$110.4 million, 100 percent of quota) under the Rapid Financing Instrument to meet the urgent balance of payment needs stemming from the COVID-19 pandemic.”

via IMF

2020 External Sector Report: Global Imbalances and the COVID-19 Crisis

“Overall current account deficits and surpluses narrowed modestly in 2019 to just under 3 percent of world GDP. The IMF’s multilateral approach suggests that about 40 percent of overall current account deficits and surpluses were excessive in 2019. The external outlook for 2020 is subject to high uncertainty and cross-country variation.”

via IMF