Macroeconomic performance and buffers were strong when the COVID-19 pandemic hit. Economic and social restrictions instituted in March 2020 helped slow new infections and mitigate negative health outcomes but triggered a deep decline in activity in Q2:2020. The slump was followed by a strong...

The Democratic Republic of the Congo (DRC) has successfully implemented key reforms under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative, despite experiencing exceptional challenges since the decision point, including a challenging security situation. Revised present value of...

This paper discusses Togo’s progress under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In November 2008, the Boards of Executive Directors of the IDA and the IMF agreed that Togo had met the requirements for reaching the decision point under the Enhanced HIPC...

This collection of papers reviews Malawi’s economic performance under a program supported by the Extended Credit Facility (ECF). Drought conditions in parts of the country have dampened the near-term outlook for growth and have resulted in food insecurity for nearly 2 million inhabitants....

Tanzania’s economic growth continues to be buoyant. The planned monetary policy tightening is aimed at entrenching gradual disinflation. Executive Directors recommend further enhancing the degree of exchange rate flexibility, and the fiscal deficit reduction envisaged in the draft budget...

This paper discusses the Democratic Republic of São Tomé and Príncipe’s First Review under the Extended Credit Facility Arrangement. The economy remains vulnerable to external and domestic shocks. Growth decelerated to 4 percent in 2012, reflecting persistent global uncertainties,...

The Fifth Review under the Extended Credit Facility (ECF) Arrangement for the Union of the Comoros discusses macroeconomic policies and developments of the country. The performance under the ECF-supported program through end-December has been satisfactory. All performance criteria and indicative...

Tanzania’s macroeconomic outlook is favorable with buoyant growth and declining inflation. The Executive Board of the International Monetary Fund (IMF) commended its prudent policy management and progress in stabilizing the economy. The country’s 2012–13 budget appropriately...

This staff report for Zimbabwe highlights the key macroeconomic challenges of taking steps to improve fiscal and external sustainability and increase financial sector stability. Zimbabwe has made good progress in restoring macroeconomic stability since the end of hyperinflation in 2009, but the...

This paper discusses Haiti’s progress under the Enhanced Initiative for Heavily Indebted Poor Countries. Substantial advances have been made toward meeting the four triggers not fully implemented, and the authorities are committed to further progress in the near future. These triggers...