The head of the IMF staff review mission to Sierra Leone, Ms. Karen Ongley said the country’s economic landscape remains challenging but that the authorities have navigated the difficulties well in the year since taking office, helping to stabilize the economy.
Directors welcomed the progress made in restoring peace and stability, but however, noted that Lesotho continues to face significant challenges, stemming mainly from the declining Southern African Customs Union (SACU) revenues and high government expenditures.
The Management of the IMF on February 5, 2019, completed the first review under the third 12-month Staff-Monitored Program (SMP III) with Somalia, which covers the period May 2018–April 2019.
An International Monetary Fund (IMF) team led by Ms. Annalisa Fedelino said Ghana’s recent economic performance has been favorable despite a less supportive external environment for frontier economies.
The African Development Bank’s Board has approved the institution’s 2019 borrowing program to the tune of US$7.24 billion from capital markets.
The Executive Board of the International Monetary Fund (IMF) has enabled the immediate disbursement of US$23.9 million to Guinea, bringing total disbursements under the arrangement to US$71.6 million.
African Development Bank (www.AfDB.org) President Akinwumi Adesina has saluted Egypt’s strong macroeconomic performance, its improved ranking in the ‘Doing Business Index,’ and the success of major projects in which the Bank is supporting Egypt, lessons that can be learned for the development and the integration of the continent.
