Provides a broad synopsis of recent economic developments in the Middle East and Central Asia region, highlighting common trends and policies among countries in the region, and reviewing prospects and policies for the coming year. Includes a statistical appendix

The COVID-19 outbreak is leading to a sharp economic contraction and creating significant financing needs in South Africa. The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument (RFI) to support the authorities' efforts in addressing the...

In August 2023, Gabon underwent a major political transition after a coup d'état had overthrown a decades-long regime. Despite multiple reform attempts, years of poorly managed oil wealth, weak inclusion, and stagnant incomes fragilized the political and socio-economic environment in the runup...

The Rwandan economy continues its robust growth, notwithstanding the challenging external environment, repeated shocks, and ongoing fiscal consolidation. Headline inflation decelerated sharply in recent months owing to appropriately tight monetary policy stance and favorable developments in food...

Strong Recovery and Challenges. Mauritius has rebounded strongly from the pandemic on the back of buoyant tourism, social housing construction, and financial services. Supportive policies facilitated the strong recovery, but challenges remain for securing a sustainable and resilient economy: (i)...

A political crisis in December 2023 resulted in another change in the government. In December 2023, the former Minister of Finance and Secretary of State of Treasury from the opposition-led government were arrested over corruption charges related to settlement of cross-arrears and NPLs of the...

This Selected Issues paper examines the potential medium and long-term effects of the Simandou iron ore project on Guinea's economy and income distribution. The paper uses two complementary macroeconomic models. If production began in 2025, the level of real gross domestic product would be...

On December 18, 2023, the explosion of a major fuel import and storage facility led to fuel shortages and new urgent financing needs. The blast caused 25 deaths and 457 injured as well as widespread fuel shortages, affecting transportation and economic activity. The relatively strong mining...