What's New Archive
Page: 1 of 200012345678910
March 23, 2023
Transcript of IMF Press Briefing
March 23, 2023
Country Report No. 2023/120
March 23, 2023
Country Report No. 2023/121
March 23, 2023
Benefiting from an effective policy response to the pandemic and highly favorable terms of trade, Colombia’s economy grew at 7.5 percent year-on-year in 2022; one of the fastest rates among emerging economies. Against this robust recovery, high commodity prices, and weather-related shocks, headline inflation reached 13.3 percent year-on-year in February 2023 and the current account deficit widened from 5.6 in 2021 to 6.2 percent of GDP in 2022.
March 23, 2023
Lebanon is at a particularly difficult juncture. For over three years, it has been facing an unprecedented crisis, with severe economic dislocation, a dramatic depreciation of the Lebanese lira and triple-digit inflation that have had a staggering impact on people’s lives and livelihoods. Unemployment and emigration have increased sharply, and poverty is at historically high levels. The provision of basic services like electricity, public health, and public education have been severely disrupted, and essential social support programs and public investment have collapsed. More broadly, capacity in public administration has been critically weakened. Banks are unable to extend credit to the economy and bank deposits are mostly inaccessible to customers. The presence of a large number of refugees exacerbates Lebanon’s challenges.
March 22, 2023
IMF Staff Completes 2023 Article IV Mission to Indonesia
March 22, 2023
Policy Paper No. 2023/010
March 22, 2023
Country Report No. 2023/119
March 22, 2023
The Executive Board of the International Monetary Fund (IMF) today approved 38-month arrangements under the Extended Credit Facility and Extended Fund Facility for Papua New Guinea (PNG) in the amount of SDR684.3 million (equivalent to US$918 million). The program seeks to protect the vulnerable and foster inclusive growth. The reforms will focus on strengthening debt sustainability, alleviating foreign exchange (FX) shortages, and enhancing governance and operationalizing the anti-corruption framework.
March 22, 2023
Country Report No. 2023/115
March 22, 2023
The reopening of borders and strong public infrastructure investment are paving the way for a faster recovery. GDP growth is expected to rise to 3.5 percent in 2023. Agricultural production, remittance inflows, and strong recovery in trading partners will support the economic activity. High energy and global commodity prices are pushing up headline inflation and widening the current account deficit, but core inflation remains subdued for now. Fiscal policy is expected to remain expansionary in the near term as the implementation of externally financed infrastructure projects accelerates. Monetary policy remains appropriately on hold amid weak private credit growth and negative output gap. The Economic Citizenship Program (ECP) is facing significant challenges, with important implications for revenue collection and governance. The financial and operational challenges of Air Vanuatu are worsening and affecting the economy in general, particularly the tourism sector. The banking sector weathered the pandemic well. However, elevated non-performing loans (NPLs), particularly for households, remain a concern.
March 22, 2023
An International Monetary Fund (IMF) team led by Papa N’Diaye visited South Africa on March 1-17 to hold meetings with the economic authorities and other counterparts from the public and private sectors for the 2023 Article IV annual consultation. Discussions focused on policies to ensure macro-financial stability and the far-reaching reforms needed to durably lift potential growth, create jobs, reduce poverty and inequality, and facilitate the transition to a greener economy.
March 21, 2023
An International Monetary Fund (IMF) team led by Mr. Marshall Mills held discussions with the Fijian authorities and other stakeholders in Suva during March 8 to 22, 2023. At the conclusion of the visit, Mr. Mills issued the following statement: “Fiji is experiencing a strong economic recovery from the pandemic. Real GDP growth rebounded by an estimated 16.0 percent in 2022 driven by the strong revival in tourist inflows. Supported by the strong economic recovery, fiscal deficits are falling from 12.2 percent of GDP in FY2022 to a projected 7.7 for FY2023. However, central government debt remains stubbornly high at around 85 percent of GDP. With the stabilization in global commodity prices, year-on-year inflation has eased recently, declining to 1.5 percent in February 2023. With high global commodity prices and the still partial recovery in tourism, the current account deficit remained elevated at an estimated 14.0 percent of GDP in 2022. However, FX reserves remained relatively comfortable at 6.2 months of prospective imports, cushioned by concessional financing from donors and remittances.
March 21, 2023
Transcript on IMF-supported EFF program Press Briefing for Sri Lanka
March 21, 2023
The Ukrainian authorities and IMF staff have reached a staff-level agreement on a set of macroeconomic and financial policies that would be supported by a new 48-month Extended Fund Facility (EFF) Arrangement. The EFF, with requested access of SDR 11.6 billion (about US$15.6 billion), or 577 percent of quota, aims to support the Ukrainian authorities anchor policies that sustain fiscal, external, price and financial stability, and support the ongoing gradual economic recovery, while promoting long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession. The staff-level agreement reflects the IMF’s continued commitment to support Ukraine and is expected to help mobilize large-scale concessional financing from Ukraine’s international donors and partners.
March 21, 2023
Country Report No. 2023/117
March 21, 2023
Country Report No. 2023/118
March 21, 2023
Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund, and Ms. Jutta Urpilainen, European Commissioner for International Partnerships, today issued the following statement on the occasion of the Eleventh African Fiscal Forum ‘Building a Resilient Africa’, which is taking place virtually from March 21 to March 22:
March 21, 2023
Today, the IMF Executive Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about US$3 billion) to support Sri Lanka’s economic policies and reforms.
March 21, 2023
Selected Issues Paper No. 2023/024
Page: 1 of 200012345678910
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
