Sahel region: African Development Bank to extend nearly $1m in gender-based grants to boost opportunities for women-led businesses

The African Development Bank's Gender Equality Trust Fund will provide a $950,000 grant to the Africa Small and Medium Enterprise Business Linkages Program in Burkina Faso, Chad, Mali, Mauritania, and Niger. 

Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of His Visit to Sri Lanka

Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today in Colombo at the conclusion of his visit to Sri Lanka, which followed the approval on March 20, 2023, by the IMF Executive Board of 48-Month arrangements of about US$ 3 billion under the Extended Fund Facility (EFF) with Sri Lanka

IMF Executive Board Approves US$43 Million Extended Credit Facility Arrangement for the Union of the Comoros

Successive external shocks in recent years have exacerbated already fragile economic conditions in Comoros. The surge in global commodity prices and transportation costs during 2022 severely impacted households’ purchasing powers in this import-dependent island economy and substantially worsened the fiscal outlook. These shocks have coincided with increased fiscal and debt service needs, as well as the expiration of pandemic-era support and retrenchment in international aid, which have significantly tightened financing constraints.

IMF Executive Board Concludes 2023 Article IV Consultation with the Republic of Poland

The Polish economy has slowed significantly amid still-high inflation. Following a rapid recovery from the pandemic, the Polish economy grew 5.1 percent in 2022, though the economy slowed considerably later in the year. With high inflation eroding real wage growth and investment facing headwinds from energy prices and interest rates, economic growth is projected at 0.3 percent in 2023 before a projected rebound in 2024. Over the medium term, Poland’s potential growth is projected to remain around 3 percent, with strong investment, supported by Next Generation EU grants, temporarily offsetting the negative effects of population aging.

IMF Executive Board Concludes 2023 Article IV Consultation with Malaysia

Malaysia registered a strong post-pandemic recovery in 2022. Its strong macroeconomic policy frameworks, including a track record of fiscal prudence and a credible monetary policy framework, have served the country well. Growth reached 8.7 percent in 2022 driven by pent-up domestic demand following the reopening of the economy in April 2022 and strong export performance. However, the recovery remains uneven, with agriculture, mining, and particularly construction sectors remaining below pre-pandemic levels, and inequality has risen during COVID-19. While costly and untargeted spending on subsidies, the highest in Malaysia’s history, helped suppress inflationary pressures, inflation remained broad-based and elevated at 3.4 percent for the year, despite recent signs of moderation. Inflation expectations, however, remained well anchored.