This 2015 Article IV Consultation highlights that Swaziland's growth has been recovering since the 2010-11 fiscal crisis, albeit at a slower pace recently. Growth recovery following the fiscal crisis was broadly supported by the manufacturing and service sectors. In 2015, however, growth is...

This Selected Issues paper assesses Swaziland's export diversification and quality. Swaziland's export structure has experienced sizable changes over the past 15 years. The share of textile exports has halved, and the expiration of trade benefits under Africa Growth Opportunity Act (AGOA)...

This Selected Issues paper focuses on the challenges of small middle-income countries (MIC) in sSub-Saharan Africa (SSA) comprising Cape Verde, Namibia, and the Kingdom of Swaziland. The IMF report summarizes the analytic underpinnings that support the IMF staff's advice on policies to...

KEY ISSUES Context and outlook: Angola’s recent economic developments have been positive, but softening oil revenue and limited proven oil reserves highlight the need to contain emerging fiscal deficits, preserve policy buffers, and continue diversifying the economy. Focus of consultation:...

This Selected Issues paper describes external balance assessment in Angola. Angola's external balance appears sustainable under current assumptions regarding the evolution of oil prices and output/exports, but the economy's lack of diversification implies that it remains highly vulnerable to...

Regional growth weakened in 2013 due to a fall in oil production in most countries. GDP growth is expected to pick-up in 2014 due to the recovery of oil production and the continuation of the implementation of public investment plans in most of CEMAC countries. Despite large spending of oil...

This Selected Issues paper proposes a strategy that could mitigate the adverse effect of fiscal consolidation on inequality and poverty in the Republic of Congo. The paper reviews income inequality and poverty trend and describes the redistributive role of fiscal policy in the Republic of Congo....

KEY ISSUES Background. The Ebola outbreak that started in one district in late May has spread to the entire country, overwhelming already weak institutions and ill-equipped medical facilities. At end-August, over 1000 people were infected and more than a third had died from the disease. The...

KEY ISSUES Context and outlook: Despite strong macroeconomic performance under the Fund- supported program (2009-12) with economic activity steadily accelerating and inflation declining sharply, poverty remains pervasive and the economy vulnerable, exposing this progress to reversal. Limited...

KEY ISSUES Context: Kenya has embarked on major reforms in line with the 2010 constitution. The new government has started the process of devolution at a fast pace, introducing a reporting framework that allows for monitoring progress and challenges. Macroeconomic stability in a market-friendly...