Armenia’s economic performance has been strong despite a series of shocks amid an uncertain global environment. Thanks to the authorities’ agile policies and unforeseen inflows of labor and capital, growth has exceeded historical trends and inflation has been contained, while fiscal and...

Economic activity has been decelerating since mid-2024, in large part due to a needed fiscal consolidation and restrictive monetary policy. U.S. trade policy, and the uncertainties associated with it, have added to these headwinds. The authorities remain committed to maintaining their very...

On September 25, 2024, the Board approved a forty-month arrangement under the Extended Credit Facility to support the authorities’ new 5-year development plan Arrest Agenda for Inclusive Development (AAID). The overarching objective of this plan is to preserve macroeconomic stability, by...

The Ecuadorian authorities have made significant progress in the implementation of their economic program, supported by the Extended Fund Facility (EFF) arrangement of SDR 3.75 billion (537 percent of quota, about US$5 billion), approved by the Executive Board in May 2024 and augmented in July...

Nepal has, so far, been relatively insulated from recent global trade and aid-related disruptions given its small export sector. Economic activity has continued to gradually recover, underpinned by a rebound in construction and manufacturing, continued expansion of hydropower, and a good harvest...

This note provides guidance to IMF staff on the consistent recording and assessment of central bank foreign exchange liquidity lines—including bilateral swap lines and repos—in staff reports. With the global network of these arrangements expanding significantly, they now carry important...

This paper presents Cabo Verde’s Sixth Review under the Extended Credit Facility (ECF) Arrangement, Request for Extension and Augmentation of the Arrangement, Request for Extension of the Arrangement under the Resilience and Sustainability Facility (RSF), Rephasing of Availability Dates, and...

This paper presents Chile’s review under the Flexible Credit Line (FCL) Arrangement. The economy is broadly balanced and growing at its potential, supported by a pickup in mining exports and a recovery in consumption. Chile continues to qualify for the FCL by virtue of its very strong economic...

This paper presents Chad’s Request for a Four-Year Arrangement Under the Extended Credit Facility. The 48-month financing package will support the objectives of the authorities’ National Development Plan 2025-2030 by ensuring fiscal sustainability, creating fiscal space for key development...

This paper presents Democratic Republic of São Tomé and Príncipe’s 2025 Article IV Consultation, First Review under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review....