The authorities have requested a new ECF-supported program, to deepen reforms undertaken under the previous program (completed in July 2024). They have also requested a program under the Resilience and Sustainability Facility (RSF)

The Gambia hosted the 15th Summit of the Organization of Islamic Cooperation (OIC) in early May 2024-the second largest intergovernmental organization in the world. Economic recovery is strengthening, while inflation has trended down, albeit slowly. Despite strong revenue collection efforts, the...

Conditionality was a central concern in the development literature of the 1990s. With the massive expansion of targeted public support to private firms since the Great Financial Crisis, the question of conditionality is once again at the center of industrial policy debates. Despite the growing...

The transition to clean energy offers opportunities for developing economies and least-developed countries (LDCs) to exploit the export potential of this transition and to accelerate their growth prospects. The WTO-led Aid for Trade initiative provides significant support to these economies to...

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...

On March 22, 2023, the IMF Executive Board approved 38-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements with Papua New Guinea to help address a protracted balance of payments need, manifested in foreign exchange shortages, and to support the authorities' reforms...

This paper presents Guinea-Bissau's Sixth Review under the Extended Credit Facility (ECF), Request for a Waiver of Nonobservance of Performance Criteria, and financing assurances review. The authorities' commitment to a range of challenging policy reforms is starting to show some results. They...

Real GDP growth stalled at 3.8 percent in 2023, dampened by the deterioration of global economic prospects and the negative effect of electoral uncertainty on investment. After peaking in March 2023, inflationary pressures have eased. Led by a new presidential mandate, the authorities are...