What's New Archive
May 18, 2023
Selected Issues Paper No. 2023/029
May 18, 2023
Transcript of Press Briefing on Ghana
May 18, 2023
Country Report No. 2023/167
May 18, 2023
An International Monetary Fund (IMF) team, led by Ms. Ran Bi, visited Doha during May 2–11, 2023, to gather facts on recent economic and financial sector developments, and the authorities’ policy actions and plans.
May 18, 2023
The two-year arrangement was approved on May 27, 2022 for an amount of SDR 4.0035 billion (about US$5.3 billion or 300 percent of quota). The Peruvian authorities have reiterated their intention to continue to treat the arrangement as precautionary. The authorities intend to exit the arrangement conditional on the reduction of external risks, in line with their strategy that sees the use of the facility as temporary.
May 18, 2023
An International Monetary Fund (IMF) team led by Ms. Anastasia Guscina conducted virtual and in-person mission with the Surinamese authorities during May 8-16 to discuss policies to complete the second review of Suriname’s economic recovery program supported by the IMF’s Extended Fund Facility.
May 17, 2023
Country Report No. 2023/168
May 17, 2023
On May 17, 2023, the Executive Board of the International Monetary Fund completed the Second Review of Benin’s Fund-supported program. The 42-month blended EFF/ECF, approved on July 8, 2022 (see PR 22/252 ), seeks to help Benin address pressing financing needs, support the country’s National Development Plan centered on achieving the Sustainable Development Goals (SDGs), and catalyze donor support. This review completion allows for the immediate disbursement of SDR 50.82 million (about US$68 million) toward budget support, bringing total disbursements under the program so far to SDR 267.42 million (about US$360 million).
May 17, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Uruguay on May 15, 2023. After reaching pre-pandemic levels in mid-2021, real GDP grew by 4.9 percent in 2022 mainly driven by strong commodity exports and the service sector, including tourism. However, the economy decelerated in the second half of the year due to adverse external conditions and the effects of the most severe drought in forty years. Inflation remained above the target range in 2022 but, after peaking in September 2022 at 9.95 percent, it started to decline towards the end of the year, reaching 7.3 percent in March 2023.
May 17, 2023
Large external shocks in recent years have exacerbated Ghana’s pre-existing fiscal and debt vulnerabilities, resulting in a loss of international market access, increasingly constrained domestic financing, and reliance on monetary financing of the government. Decreasing international reserves, Cedi depreciation, rising inflation and plummeting domestic investor confidence, eventually triggered an acute crisis. The authorities have taken bold steps to tackle these deep challenges, including by accelerating fiscal adjustment. The government has also launched a comprehensive debt restructuring to address severe financing constraints and the unsustainable public debt. Securing timely debt restructuring agreements with external creditors will be essential for the successful implementation of the new ECF arrangement.
May 17, 2023
Country Report No. 2023/166
May 17, 2023
May 17, 2023
“We are pleased to announce that the IMF team and the Jordanian authorities reached a staff-level agreement on the sixth review of the authorities’ economic reform program supported by the EFF arrangement. The completion of this review will bring the total IMF disbursements since the start of the program in 2020 to SDR 1300 million (around US$1750 million). This agreement is subject to approval by the IMF’s management and the Executive Board.
May 17, 2023
Gita Gopinath addresses how emerging markets (EMs) navigate high inflation amid global tightening. She underscores EMs' resilience due to policy reforms and improved monetary frameworks. Gopinath emphasizes maintaining tight monetary policies to curb inflation, with caution about persistent risks. She suggests fiscal restraint to mitigate financial vulnerabilities, stressing the need for refined policy frameworks in navigating the global economic landscape.
May 17, 2023
An International Monetary Fund (IMF) team, led by Mr. Lamin Leigh, conducted discussions for the 2023 Article IV Consultation with Singapore during May 8-May 17, 2023.
May 16, 2023
Working Paper No. 2023/104
May 16, 2023
We strongly support the authorities’ commitment to improve Brazil’s fiscal position. Enhancing the fiscal framework, broadening the tax base, and tackling spending rigidities would support sustainability and credibility, while providing flexibility, including for new spending priorities.
May 16, 2023
IMF Staff Concludes Mission to South Sudan for Mid-Term Review of Staff Monitored Program with Board Involvement
May 16, 2023
Transcript of IMF Press Briefing in Sri Lanka
May 16, 2023
Germany has weathered well the fallout from the Russian gas shut off, thanks to a strong policy response and mild winter. Tighter financial conditions and the energy price shock are nonetheless expected to keep economic growth muted in the near term. Headline inflation is falling steadily, but core inflation is proving to be stickier. A top policy priority in the near term is thus to support disinflation with a moderate tightening of the fiscal stance in 2023 as well as supply-side reforms.
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