What's New Archive
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July 28, 2023
Country Report No. 2023/276
July 28, 2023
Country Report No. 2023/279
July 28, 2023
The Executive Board of the International Monetary Fund (IMF) discussed the first review of the Staff-Monitored Program with Executive Board Involvement (PMB) for Malawi. Malawi has been affected by a series of shocks— including an outbreak of cholera and Cyclone Freddy, which caused significant loss of life and damage to infrastructure—since the approval of the PMB on November 11, 2022.
July 28, 2023
• The Argentine authorities and IMF staff have reached staff-level agreement on the combined fifth and sixth reviews under Argentina’s 30-month Extended Fund Facility (EFF) arrangement. The agreement is subject to the continued implementation of agreed policy actions and approval by the IMF Executive Board, which is expected to meet in the second half of August. Upon completion of the fifth and sixth reviews, Argentina will have access of about US$7.5 billion. The next review is expected to take place in November.
July 28, 2023
Country Report No. 2023/275
July 28, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Estonia and endorsed the staff appraisal on a lapse-of-time basis without a meeting.
July 28, 2023
Country Report No. 2023/285
July 28, 2023
Context. Curaçao and Sint Maarten continue to recover from major shocks. Both countries have had two years of robust growth driven by a strong rebound of tourism, although the benefits of recovery have not reached all sectors. The recovery in tourist arrivals was among the fastest in the Caribbean and the current outcomes are above the pre-pandemic levels. Sint Maarten has further to go to reach levels seen before hurricane Irma in 2017. Similar to other countries, Curaçao experienced a strong bout of inflation, which affected the vulnerable. The international reserves of the monetary union of Curaçao and Sint Maarten remain at a comfortable level despite the elevated external current account deficit, which was due in part to higher import prices. The banking system remains well-capitalized and liquid.
July 27, 2023
Country Report No. 2023/286
July 27, 2023
The Canadian economy is decelerating, accompanied by a sharp decline in headline inflation. But, as in other similar countries, core inflation has been stickier, and short-term expectations remain elevated against the background of still-tight labor markets. Meanwhile, the financial system appears broadly resilient, despite global banking stresses and ongoing mortgage resets at higher interest rates, and the housing market is rebounding again, partly reflecting the substantial increase in immigration.
July 27, 2023
Country Report No. 2023/284
July 27, 2023
Economic activity rebounded strongly. Real GDP grew by 27.6 percent in 2021 and further expanded by 7.3 percent in 2022, reinforced by the recovery of tourist arrivals following the lifting of the restrictions introduced during the pandemic. Inflation has moderated and was 4.9 percent in April, driven by imported energy and food prices and the increases of electricity and water tariffs in August 2022. The unemployment rate decreased to 6.6 percent by June 2022 and appears to have fallen further in subsequent months. The banking sector remains well-capitalized, liquid, and profitable. Banks have been lending at a slow pace in 2022 which picked up in early 2023. The strong tourism recovery contributed to further improving the external and fiscal positions. Public debt has declined.
July 27, 2023
IMF Staff Concludes Visit to Nepal
July 26, 2023
July 26, 2023
Country Report No. 2023/272
July 26, 2023
On July 24, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation19F21F with Norway and endorsed the staff appraisal without a meeting. 22F Norway grew strongly in 2022 but the pace of output growth receded somewhat this year. Record-high energy and food prices together with much higher interest rates put pressure on households’ purchasing power.
July 26, 2023
Domestic policies can help support growth in coming years, but long-term prospects also depend on the global community’s ability to prevent destructive global warming outcomes.
July 26, 2023
Country Report No. 2023/274
July 26, 2023
Country Report No. 2023/273
July 26, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Italy. The Italian economy has weathered well the effects of Russia’s war in Ukraine, growing by 3.7 percent in 2022. Private consumption rose robustly on recovery in employment, buoyant tourism, and extensive fiscal support of real purchasing power. Growth in services and construction offset weakness in manufacturing, especially in energy-intensive industries affected by high energy prices.
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