Program implementation and economic fundamentals continue to be strong, but the external position weakened in mid-2014. Projected growth for 2014 has been revised down to 2.8 percent from 3.7 percent, due to weaker demand for Seychelles' two main exports�tourism and canned tuna. At the same...

EXECUTIVE SUMMARY Article IV issues. The government is committed to implementing the "Plan S�n�gal Emergent" (PSE), which contains valid diagnostics and policies to boost growth and accelerate poverty reduction. GDP growth is projected to rise from less than 4 percent in recent years to 4.5...

Context and policy challenges. Mozambique's macroeconomic performance remains robust, with strong growth and low inflation. In spite of the heightened risks from an uncertain global outlook, growth is expected to be broad-based in the medium term and boosted by the natural resource boom and...

KEY ISSUES Macroeconomic developments remain favorable. Economic growth was strong during the first half of 2014 and is expected to remain close to 7 percent. Inflation remains in mid-single digits, consistent with the authorities' target of 5 percent by June 2015. New national accounts...

In spite of the implementation of measures to strengthen public financial management during the last quarter of 2014, the performance criteria (PC) for end-2014 relating to gross tax revenue and bank and market financing of the government were not met owing to administrative weaknesses at the...

Zambia achieved strong growth and macroeconomic stability over most of the last decade. However, in the last two years, the Zambian economy has been facing strong headwinds from large fiscal imbalances, lower copper prices, and policy uncertainties. The current account has deteriorated,...

KEY ISSUES Tanzania’s macroeconomic performance remains strong. Real GDP grew by about 7 percent in 2014 and inflation is now slightly below the authorities’ 5 percent target. Growth is projected to remain strong and inflation moderate. Program performance since the last review has been...

A decade–long hydrocarbon boom has led to a fast rise of average incomes and spurred a large scaling up of investment spending on infrastructure, although progress on social indicators has been slow. With hydrocarbon extraction shifting into a trend decline in the context of weak oil prices...

All but one performance criteria were met at end-April 2015 and structural benchmarks were largely completed, some with delays. However, there was non-observance of the continuous performance criterion on the ceiling on gross credit to government by Bank of Ghana (BoG) in April by a small margin...

This 2015 Article IV Consultation highlights that Congo's growth was strong in 2014 and inflation was moderated, but the country has been hit hard by the oil price shock. Growth rose to 6.8 percent in 2014, driven by a rebound in oil production. The fiscal deficit amounted to 8.5 percent of GDP...