The Mauritanian economy is expected to slow down in 2024 with a growth rate estimated at 4.6 percent (compared to 6.5 percent in 2023), reflecting sluggish extractive sector. Inflation is contained and the current account (CA) deficit is narrowing. The outlook is subject to significant risks,...

Costa Rica successfully completed its Extended Fund Facility (EFF) and Resilience and Sustainability (RSF) arrangements in June. Growth remains robust, inflation continues to converge to the central bank's target from below, and international reserves are ample. While one-off revenue shortfalls...

Ecuador is making significant progress in the implementation of its economic reform program. The authorities have embarked on a set of decisive policy actions and reforms to address fiscal and external imbalances, supported by the 48-month Extended Fund Facility (EFF) arrangement approved by the...

Benin's macroeconomic performance appears robust 2½ years into the EFF and ECF arrangements. There are promising signs of economic transformation, with higher value-added exports and momentum in information and communications technology and tourism. The 2025 budget-the last year of fiscal...

This paper presents the Republic of Moldova's Sixth Reviews under the Extended Credit Facility and Extended Fund Facility Arrangements, Request for Modification of Performance Criteria, and Second Review under the Resilience and Sustainability Facility Arrangement. Recovery from the multiple...

Following the January 14 presidential election, President Azali announced a new cabinet in July, introducing several new and youthful faces into the political scene. Amid this political transition, Comoros' economy is showing signs of softening coupled with inflationary pressures driven by...

Guinea-Bissau continues to face a challenging economic and political environment. Recent downward shocks to cashew exports are adding pressures to the balance of payments and fiscal revenue. Tightening of regional financial conditions continue to raise borrowing costs. Since the political crisis...

Growth continues to recover from the impacts of the unfavorable global economic environment and domestic factors. Growth is expected to continue strengthening, supported by the implementation of the authorities' reform agenda, and subsiding global commodity prices. Inflation is projected to...

Zambia faces a severe drought, sharply reducing agricultural and electricity output and leading to extensive load shedding. In response, the authorities expanded social cash transfers to support affected households. Multilateral financing has eased fiscal and balance of payments pressures....

Economic activity remains strong but moderating as transitory trade, remittances, and capital flows peter out. The outlook is positive, with growth expected to reach 6.0 percent in 2024 and to converge gradually to its long-term rate. Inflation has picked up very slowly and is expected to remain...