The International Monetary Fund (IMF) and Senegalese authorities have reached a staff-level agreement on economic and financial policies, paving the way for a new financing arrangement. The agreement includes a 36-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) with access to approximately US$1.526 billion. Additionally, Senegal will receive support from the Resilience and Sustainability Facility (RSF) amounting to around US$327.1 million. The agreement is subject to approval by IMF Management and consideration by the Executive Board, scheduled for mid-June 2023.
Posts tagged as “IMF”
The International Monetary Fund (IMF) has approved the first review of Tanzania's three-year extended credit facility, which will allow an immediate disbursement of approximately $153 million in budgetary support. The IMF stated that Tanzania's economic reform program was progressing well in a challenging global economic environment. However, authorities must work to boost domestic revenues while stepping up structural reforms to streamline bureaucracy and combat corruption.
The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates, and uncertainties resulting from the collapse of two big American banks.
An International Monetary Fund (IMF) team, led by Laura Jaramillo, conducted constructive and fruitful discussions with Somali authorities in Nairobi from March 7 to 14, 2023, and reached a staff-level agreement on the fifth review under the Extended Credit Facility (ECF) arrangement. In attendance were, the Minister of Finance, the Minister of Planning, the Central Bank Governor as well as other government officials, and development partners.
The International Monetary Fund (IMF) has assigned Leonard Chumo as a swiss-funded financial supervision advisor to the Bank of Ghana(BoG). Chumo commenced his duties on February 6 2023 and is expected to stay for three years.