Recent developments are broadly favorable and policies are aligned with staff recommendations and program priorities. Reflecting the favorable rainy season, economic activities are recovering from the 2016-17 drought and inflation is easing. The authorities remain strongly committed to policy...

The economy of the Central African Republic (C.A.R.), a fragile state, is recovering gradually. Following the 2013 crisis, macroeconomic conditions have stabilized: growth has resumed, inflation has declined, domestic revenues have recovered, and debt ratios have decreased. The outlook, however,...

Economic growth remains strong, driven by cotton production, increased public investment, and a vibrant tertiary sector that benefited from the economic recovery in Nigeria since June 2017. The fiscal consolidation path envisages a lower than originally programmed fiscal deficit (including...

The gradual economic recovery in this fragile state has persisted, with solid growth for the second consecutive year. Fiscal performance has been strong, inflation contained, and the external position robust. Implementation of the authorities' economic program, supported by an Extended Credit...

This paper discusses Sao Tome and Principe's 2018 Article IV Consultation, Fifth Review Under the Extended Credit Facility, Request for Waivers for Nonobservance of Performance Criteria, and Financing Assurances Review. Sao Tome and Principe's GDP growth in 2017 is estimated at about 4 percent,...

This paper discusses Chad's Second Review of the Program Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Financing Assurances Review. All but one PC for end-December 2017 were met, as were all structural benchmarks Most indicative...

This 2018 Article IV Consultation highlights that Kenya has maintained strong growth in recent years. External imbalances have narrowed, strengthening resilience to shocks. The business environment continues to improve, supporting private investment. However, a severe drought, an extended...

In May 2018, the IMF's Management approved a 7-month Staff-Monitored Program (SMP), covering the period January 1-July 31, 2018. The main fiscal objectives of the SMP are to (i) reduce the budget deficit through non-hydrocarbon revenue mobilization and expenditure reduction while protecting...