What's New Archive

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How to Design a Presumptive Income Tax for Micro and Small Enterprises

June 29, 2023
How-To Note No 2023/002  

IMF Executive Board Completes the First Review under the Extended Fund Facility (EFF) Arrangement for Ukraine

June 29, 2023
The Executive Board of the International Monetary Fund (IMF) completed today the First Review of the Extended Fund Facility (EFF) for Ukraine. The completion of the first review enables the authorities to immediately draw an amount of SDR 663.9 million (33 percent of quota, or about US$890 million).  

IMF Executive Board Completes the Sixth Review Under the Extended Fund Facility with Jordan

June 29, 2023
Jordan’s four-year extended arrangement, amounting to SDR 926.37 million (about US$1,235 million, equivalent to 270 percent of Jordan’s quota in the IMF), was approved by the IMF’s Board on March 25, 2020 and augmented on June 30, 2021, to SDR 1070.47 million (about $1,430 million, equivalent to 312 percent of Jordan’s quota in the IMF). On June 30, 2022, the arrangement was once again augmented, to SDR 1,145.954 million (about $1,530 million, equivalent to 334 percent of Jordan’s quota in the IMF) (see Press Release No. 22/245).  

Statement from International Monetary Fund Managing Director, COP28 President-Designate, President of the World Bank Group, and UN Special Envoy for Climate Action and Finance

June 29, 2023
Dr. Sultan Al Jaber, COP28 President-Designate, Kristalina Georgieva, Managing Director of the International Monetary Fund, Ajay Banga, President of the World Bank Group, and Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair of the Glasgow Financial Alliance for Net Zero (GFANZ), co-chaired a roundtable discussion as part of the Summit for a New Global Financing Pact at the Palais Brongniart.  

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

June 29, 2023
Country Report No. 2023/237  

Republic of Croatia: Selected Issues

June 29, 2023
Country Report No. 2023/234  

Republic of Croatia: 2023 Article IV Consultation-Press Release; Staff Report; and Staff Statement

June 29, 2023
Country Report No. 2023/233  

IMF Executive Board Concludes 2023 Article IV Consultation with Croatia

June 29, 2023
Croatia posted another year of strong economic growth in 2022, among the highest in the eurozone. Output expanded by 6.2 percent in 2022, driven by domestic demand and tourism. The fiscal position improved considerably to a small surplus and the public debt declined significantly to about 69 percent of GDP, below pre-pandemic levels. However, surging energy and food prices drove headline inflation to a multi-decade high at year end. The largely foreign-owned banking system has remained profitable, well-capitalized, and extremely liquid.  

IMF Executive Board Concludes 2023 Article IV Consultation with Lebanon

June 29, 2023
Lebanon has been facing an unprecedented sovereign-banking-currency crisis, which is ongoing for more than three years. Since the onset of the crisis, the economy has contracted by about 40 percent, the Lebanese lira has lost 98 percent of its value, inflation has been at triple-digits, and the central bank has lost two thirds of its foreign exchange (FX) reserves.  

Republic of Fiji: 2023 Article IV Consultation-Press Release; and Staff Report

June 28, 2023
Country Report No. 2023/238  

Seychelles: Requests for an Extended Arrangement under the Extended Fund Facility and Arrangement under the Resilience and Sustainability Facility and Cancellation of the Current Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Seychelles

June 28, 2023
Country Report No. 2023/235  

IMF Executive Board Concludes the Fourth Review Under the Extended Credit Facility Arrangement with the Democratic Republic of the Congo

June 28, 2023
The Executive Board of the International Monetary Fund (IMF) concluded today the fourth review of the Extended Credit Facility (ECF) arrangement for the Democratic Republic of the Congo (DRC) approved in July, 15 2021 (see PR 21/217). The completion of the Fourth Review allowed an immediate disbursement equivalent to SDR152.3 million (about US$203.3 million) to support balance-of-payment needs, bringing the aggregate disbursement to date to SDR761.5?million (about US$1,017 million).  

IMF Executive Board Concludes 2023 Article IV Consultation with Fiji

June 28, 2023
On June 1, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Fiji and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis.  

IMF Executive Board Concludes 2023 Article IV Consultation and First Review Under the Stand-By Arrangement with the Republic of Serbia

June 28, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the 2023 Article IV consultation and first review of the Stand-By Arrangement with the Republic of Serbia. An additional SDR164 million (over €200 million) is available to purchase, which would bring cumulative drawing to SDR949 million (around €1.2 billion).  

Jamaica: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)

June 28, 2023
Country Report No. 2023/236  

Alfred Kammer's Remarks at the ECB Forum on Central Banking: "Lessons from recent experiences in macroeconomic forecasting"

June 28, 2023
Thank you very much, it’s a pleasure to be here and discuss some of the common challenges we have faced in trying to make sense of developments and project the economy over the past few years. I will structure my remarks around three themes – first, the challenge of macroeconomic forecasting and how we approach it at the IMF. Then I’ll explain how we adapted our forecasting methods during the uncertain and volatile periods of a pandemic and energy crisis. Finally, I will conclude with a few thoughts on what lessons we can take forward. In my view, these are to (i) be balanced—emphasize top-down forecasting approaches when common forces are strong, but allow for idiosyncrasies as well; (i) be nimble—be ready to continuously develop and add new tools; and (iii) be modest—focus on avoiding misses that would cause major policy mistakes rather than marginal variation around the modal forecast.  

Suriname: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Rephasing and Reduction of Access, Waivers of nonobservance of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; Staff Statement; and Statement by the Executive Director for Suriname

June 27, 2023
Country Report No. 2023/232  

Costa Rica: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, First Review Under the Resilience and Sustainability Arrangement, Request for Modification of Reform Measure Under the Resilience and Sustainability Facility, and Monetary Policy Consultation-Press Release; and Staff Report

June 27, 2023
Country Report No. 2023/231  

IMF Staff Concludes Visit to North Macedonia

June 27, 2023
An International Monetary Fund (IMF) mission, led by Jacques Miniane, visited North Macedonia during June 5-9, to discuss recent economic developments and policies in the context of the IMF’s Precautionary and Liquidity Line (PLL) with North Macedonia. At the conclusion of the visit, Mr. Miniane issued the following statement:  

IMF Executive Board Concludes the Fourth Review of Costa Rica’s Extended Fund Facility and the First Review under the Resilience and Sustainability Facility

June 26, 2023
The authorities continue to make important progress on Costa Rica’s economic reform agenda. Going forward, the overall policy stance should remain focused on durably bringing inflation back to target and keeping public debt on a firm downward path, while advancing reforms to achieve green, dynamic and inclusive growth.  

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