What's New Archive

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IMF Staff Concludes Staff Visit to Yemen

June 7 , 2023
An International Monetary Fund (IMF) team, led by Joyce Wong, conducted a virtual and in-person mission in Amman, Jordan with the Yemeni authorities from May 25 to June 8. Discussions covered recent economic developments in Yemen, the outlook, and progress on key reforms.  

Switzerland: Selected Issues

June 7 , 2023
Country Report No. 2023/197  

Switzerland: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Switzerland

June 7 , 2023
Country Report No. 2023/196  

Republic of Kosovo: Request for Stand-By Arrangement and an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kosovo

June 7 , 2023
Country Report No. 2023/200  

IMF Executive Board Concludes 2023 Article IV Consultation with Switzerland

June 7 , 2023
Growth slowed in 2022, while inflation became a new challenge after a decade of ultra-low or negative inflation. The labor market is tight, with the unemployment rate at a 20-year low. The external current account (CA) surplus rose further in 2022, thanks to strong merchanting trade and an improved services trade balance. The focus of fiscal policy has shifted from extraordinary, COVID-related support to offsetting extraordinary outlays, while addressing rising medium-term spending needs within the debt-brake rule. Monetary policy has tightened to reduce inflation. Challenges faced by Credit Suisse (CS) led to a state-facilitated acquisition by UBS in March to protect market confidence and financial stability. Otherwise, financial sector buffers remain strong, but risks have increased. Pension reforms, dialogue with the EU, and green/sustainable transition progressed in 2022.  

Saudi Arabia: Staff Concluding Statement of the 2023 Article IV Mission

June 7 , 2023
Saudi Arabia was the fastest growing G20 economy in 2022. Overall growth reached 8.7 percent, reflecting both strong oil production and a 4.8 percent non-oil GDP growth driven by robust private consumption and non-oil private investment, including giga projects. Wholesale, retail trade, construction, and transport were the main drivers of non-oil growth. The output gap is estimated to have closed during 2022 and the momentum is continuing in 2023, with nowcasting estimates suggesting non-oil growth above 5 percent in H1 2023.  

Rwanda: First Reviews Under the Policy Coordination Instrument and the Arrangement Under the Resilience and Sustainability Facility, Request for the Modification of End-June 2023 Quantitative Targets, and Rephasing of Access Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda

June 6 , 2023
Country Report No. 2023/198  

The Right Policies Needed to Navigate Economic Challenges in Central, Eastern, and Southeastern European Economies

June 6 , 2023
The event gathered over 100 participants including representatives of the government of the Republic of Croatia, central bank governors and ministers of finance from the CESEE region, representatives of the European Commission, the European Investment Bank, the European Bank for Reconstruction and Development as well as renowned economic experts.  

Opening Remarks at the Eighth Tokyo Fiscal Forum

June 6 , 2023
Good morning, ladies and gentlemen. On behalf of the IMF, I am very pleased to welcome you all to the Eighth Tokyo Fiscal Forum. This is the first in-person forum in three years since 2019. We are pleased to hold the event in person again, as a more lively format helps to strengthen relationships and build social networks.  

South Africa: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

June 6 , 2023
Country Report No. 2023/194  

South Africa: Selected Issues

June 6 , 2023
Country Report No. 2023/195  

IMF Executive Board Concludes 2023 Article IV Consultation with South Africa

June 6 , 2023
South Africa’s economy is facing mounting economic and social challenges. Growth moderated from 4.9 percent in 2021 to 2.0 percent in 2022 as the country was buffeted by Russia’s war in Ukraine, global monetary policy tightening, severe floods, and an unprecedented energy crisis. Business and consumer confidence and investor sentiment remain weak, and the sovereign spread for South Africa remains higher than the pre-pandemic level. The average employment level in 2022 was still about 5 percent lower than in 2019, threatening social cohesion.  

IMF Executive Board Completes the Sixth and Seventh Reviews Under the Extended Credit Facility Arrangement for Sierra Leone

June 5 , 2023
The Executive Board of the International Monetary Fund (IMF) completed the Sixth and Seventh Reviews of Sierra Leone’s Extended Credit Facility (ECF) arrangement, and approved the authorities’ request for a rephasing, and extension of the ECF Arrangement by five months to November 29, 2023. The completion of the reviews enables the immediate disbursement of SDR 15.555 million (about US$20.7 million). This brings the total disbursements under the ECF Arrangement to SDR 108.89 million (about US$144.6 million).  

Cyprus: 2023 Article IV Consultation-Press Release; and Staff Report

June 5 , 2023
Country Report No. 2023/192  

Cyprus: Selected Issues

June 5 , 2023
Country Report No. 2023/193  

A User Manual for the DIGNAD Toolkit

June 5 , 2023
Technical Notes and Manuals No. 2023/003  

The Power and Perils of the “Artificial Hand”: Considering AI Through the Ideas of Adam Smith

June 5 , 2023
AI could certainly help reverse this trend. We could foresee a world in which it boosts economic growth and benefits workers. AI could raise productivity by automating certain cognitive tasks while giving rise to new higher-productivity tasks for humans to perform. With machines taking care of routine and repetitive tasks, humans could spend more time on what makes us unique: being creative innovators and problem solvers.  

Food Insecurity and Climate Shocks in Madagascar: Republic of Madagascar

June 5 , 2023
Selected Issues Paper No. 2023/037  

Social Spending and Outcomes in Madagascar: Republic of Madagascar

June 5 , 2023
Selected Issues Paper No. 2023/035  

Informality and Growth in Madagascar: Republic of Madagascar

June 5 , 2023
Selected Issues Paper No. 2023/036  

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