Economic recovery is gaining momentum but remains fragile amid the on-going COVID-19 pandemic and Ukraine war's ripple effects. Despite oil exports benefiting from high oil prices, the war's impact on prices of food and other essentials weighs on households and businesses. Over the medium term,...

The war in Ukraine is disrupting the post-pandemic recovery and exacerbating difficult policy trade-offs. This adds to a series of challenges facing the country, including the pandemic, the Ecowas sanctions against Mali, regional instability, and rising social demands. As a result, growth was...

Since program approval, Niger has been facing a more challenging international context, including the fall-out from the war in Ukraine, which is exacerbating pressures on food and fertilizer prices. Moreover, unfavorable rainfall and a deterioration in the security situation led to a...

Despite a more favorable external environment, marked by the rebound in global growth, fast-increasing oil prices, and unprecedented Fund financial support, CEMAC is ending 2021 in a fragile external position. Net external reserves fell throughout 2021 to reach their lowest level in decades, and...

Considerable macroeconomic gains were achieved in 2021: the economic rebound was stronger than envisaged, driven by the non-extractive sector; CPI inflation declined to 5.3 percent year-on-year, accompanied by a stable exchange rate as the central bank stopped providing financing to the...

Tanzania's economy is gradually recovering from the negative effects of the COVID-19 pandemic. While IMF emergency financing (0.8 percent of GDP) in 2021 helped address fiscal pressures, preserve stability, and finance the authorities' COVID-19 economic and health response, Tanzania continues to...

Following two years of COVID-19 challenges, Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), is facing a new policy environment. The nascent economic recovery from mid-2021, supported by higher oil prices and non-oil production, is now subject to greater...

South Sudan is a very fragile post-conflict state and one of the most vulnerable countries in the world to climate-driven disasters. The pandemic reversed the economic recovery that followed the 2018 peace agreement. The oil price shock from the pandemic resulted in a massive loss of revenue,...