IMF | - Part 5

IMF says plans to meet new Ghana government over aid programme

ACCRA (Capital Markets in Africa) – The International Monetary Fund (IMF) plans to visit Ghana to hear the new government’s plans for implementing the country’s $918 million aid deal, the Fund said on Thursday. President Nana Akufo-Addo was sworn in on Saturday pledging to cut taxes, spend on development and boost annual growth to double digits as he seeks to return Ghana to its place as one of Africa’s most dynamic economies. He also inherits a…

IMF halves Mozambique’s growth, expects inflation rise

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – IMF staff team headed by Michel Lazare visited Mozambique from December 1-12, 2016 to assess recent economic developments and discuss policies to support macroeconomic stability. As highlighted in a November 28 statement (see Press Release No.16/528) , the team also initiated discussions on a new economic program that could be supported by the IMF. At the end of the visit, Mr. Lazare issued the following statement: “There have been several positive economic…

South Africa needs Reform to Lift Growth, says IMF

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Since 1994, economic growth and sound policies have been mutually reinforcing, fostering economic transformation and improving living conditions. However, the long-run economic growth rate has gradually slowed over the years. Following the onset of adverse shocks such as the decline in commodity prices, economic activity has come to a near-standstill in 2016 and the projected recovery to almost 1 percent in 2017 remains insufficient to keep pace with population…

Namibia’s economic growth to slow sharply in 2016 – IMF

Posted on by The Editorial Team

WINDHOEK (Capital Markets in Africa) – Namibia’s economy growth will slow to 1.6 percent this year from more than 5 percent in 2015 after a contraction in the mining sector and reduced government spending, the International Monetary Fund said on Thursday. “Growth is projected to temporarily weaken in 2016 to 1.6 percent as the construction of large mines ends and the government starts consolidating,” the lender in a statement at the end of a visit…

Morocco’s economy is diversified and resilient, IMF Says

Posted on by The Editorial Team

CASABLANCA (Capital Markets in Africa) – An International Monetary Fund (IMF) staff team led by Nicolas Blancher visited Morocco from November 16 to December 1, 2016, to conduct discussions with the Moroccan authorities on the 2016 Article IV consultation, as well as on the first review under the Precautionary and Liquidity Line (PLL) arrangement approved in July 2016. The discussions focused on increasing the resilience and the potential of the Moroccan economy. At the conclusion…

IMF says expects board to consider Egypt loan in next few weeks

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – The International Monetary Fund said on Thursday that a $12 billion loan program for Egypt should be ready for board approval in the next few weeks and insisted that it would not call for cuts to food subsidies. “Progress has been made on a number of objectives and actions under that program in the subsequent period and we expect the program to come to the board within the next…

Mozambique Needs More Rate Hikes to Counter Inflation, Says IMF

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – Mozambique needs to further increase its benchmark interest rate hikes to counter rising inflation and prevent its currency from depreciating, the International Monetary Fund said, following a visit to the southern African nation. The IMF visited the coal-producing country this week after government finances have come under pressure as global commodity prices plunged and financiers, such as the IMF, and donors froze funding due the disclosure of $1.4 billion in…

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