What's New Archive

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Pakistan: Request for a Stand-by Arrangement-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Pakistan

July 18, 2023
Country Report No. 2023/260  

IMF Managing Director Kristalina Georgieva Urges G20 Leadership to Strengthen the Global Financial Safety Net

July 18, 2023
The global economy has shown some resilience. Despite successive shocks in recent years and the rapid rise in interest rates, global growth—although anemic by historical standards—remains firmly in positive territory, supported by strong labor markets and robust demand for services. That said, activity is slowing, especially in the manufacturing sector. Looking further ahead, medium-term growth prospects remain weak. Moreover, divergences in economic fortunes across countries are a persistent concern: some pockets of the global economy are doing well; others are weakening but still growing; and vulnerable countries are falling further behind.  

External Sector Report, 2023: External Rebalancing in Turbulent Times

July 18, 2023

IMF Executive Board Approves a US$271 million 38-month Arrangement Under the Extended Credit Facility for Burundi

July 17, 2023
The arrangement will help Burundi address its protracted balance of payments needs, reduce debt vulnerabilities, and cope with the effects of recent domestic and external shocks. Burundi’s post-COVID-19 economic recovery has slowed down, although still healthy. Spillovers of the war in Ukraine have triggered sharp increases in commodity prices and domestic inflationary pressures. Domestic shocks, including delayed rainfall, limited availability of fertilizer, and outbreaks of livestock fevers have impacted Burundi’s primary sector. External imbalances have heightened, with a widening current account deficit, low foreign exchange reserves, and a still large parallel foreign exchange (FX) market premium. Higher spending needs, including on fertilizers, social programs, and vaccines have deteriorated the fiscal path and raised fiscal financing needs.  

Germany: Selected Issues

July 17, 2023
Country Report No. 2023/259  

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

July 17, 2023
Country Report No. 2023/258  

IMF Executive Board Concludes 2023 Article IV Consultation with Germany

July 17, 2023
The German economy has demonstrated resilience following the shut-off of Russian gas supply last year. Highly adverse scenarios of widespread energy scarcity have been avoided due to strong efforts to conserve gas and secure energy supplies, as well as the lack of severe winter weather. Nevertheless, adverse effects from the energy shock and tightening financial conditions have been sufficient to tilt the economy into recession in recent months. Inflation also spiked as the energy price shock added to existing pandemic-related bottlenecks, though inflation is now falling as these effects ease. The overall capital and liquidity positions of Germany’s banking and insurance systems remain at solid levels, but banking turmoil in other advanced economies earlier this year has heightened the focus on potential financial stability risks associated with rising interest rates.  

IMF Staff Completes 2023 Article IV Mission to Botswana

July 14, 2023
“Following a strong recovery of almost 12 percent growth in 2021, Botswana‘s economy grew by 5.8 percent in 2022, significantly above the long-run average of 4 percent. The recovery from the pandemic primarily reflects elevated mining production, but also robust manufacturing and construction. After peaking at 14.6 percent in August 2022, inflation has fallen gradually to 4.6 percent in June 2023, with lower oil prices delivering a steep decline in transport inflation. This has helped return inflation to the Bank of Botswana’s medium-term objective range of 3 - 6 percent.  

Zambia: Selected Issues

July 13, 2023
Country Report No. 2023/257  

Zambia: 2023 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Zambia

July 13, 2023
Country Report No. 2023/256  

Transcript of IMF Press Briefing

July 13, 2023
Press Briefing by Julie Kozack, Director, Communications Department – July 13, 2023 at 9:30 a.m.  

Lessons from the United Kingdom’s Liability – Driven Investment (LDI) Crisis: United Kingdom

July 13, 2023
Selected Issues Paper No. 2023/049  

The Recent Decline in United Kingdom Labor Force Participation: Causes and Potential Remedies

July 13, 2023
Selected Issues Paper No. 2023/051  

Enhancing Business Investment in the United Kingdom

July 13, 2023
Selected Issues Paper No. 2023/050  

The Energy Price Shock—Impact, Policy Responses, and Reform Options: United Kingdom

July 13, 2023
Selected Issues Paper No. 2023/048  

IMF Executive Board Concludes the 2023 Article IV Consultation with Zambia and Completes the First Review Under the Extended Credit Facility Arrangement

July 13, 2023
Zambia’s ECF Arrangement is for a total of SDR 978.2 million (100 percent of quota) or about US$1.3 billion at the time of program approval on August 31, 2022 (see Press Release 22/297). It seeks to support Zambia’s homegrown economic reform plan that seeks to restore macroeconomic stability and foster higher, more resilient, and more inclusive growth.  

Republic of Mozambique: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Modification of The Monetary Policy Consultation Clause, Waivers of Nonobservance for Quantitative Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Mozambique

July 13, 2023
Country Report No. 2023/255  

Niger: Third Review Under the Extended Credit Facility Arrangement, Request for Extension, Rephasing, and Modification of Performance Criteria of the Extended Credit Facility Arrangement, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Niger

July 12, 2023
Country Report No. 2023/254  

IMF Executive Board Approves US$3 billion Stand-By Arrangement for Pakistan

July 12, 2023
Today, the Executive Board of the International Monetary Fund (IMF) approved a 9-month Stand-By Arrangement (SBA) for Pakistan for an amount of SDR2,250 million (about $3 billion, or 111 percent of quota) to support the authorities’ economic stabilization program. The arrangement comes at a challenging economic juncture for Pakistan. A difficult external environment, devastating floods, and policy missteps have led to large fiscal and external deficits, rising inflation, and eroded reserve buffers in FY23.  

Senegal's Growth Prospects are Strong

July 12, 2023
An ambitious reform agenda will help the country keep its growth momentum.  

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