Completion of the reviews enables an immediate disbursement of US$ 34.4 million) The Covid-19 pandemic has had a substantial impact on C.A.R.'s economy.
Date Time
IMF Executive Board Completes Second Review Under Policy Coordination Instrument for Senegal
Despite the challenges posed by the COVID-19 pandemic, performance on end-June PCI objectives has been broadly satisfactory and the program remains on track.
With a broad-based recovery starting in the second half of 2020 and favorable perspectives for end-year agricultural production, the contraction initially expected for the full year will likely be avoided. This momentum should carry over to 2021, with growth projected at about 5 percent.
The 2021 budget approved in December 2020 balances support for the recovery and a gradual fiscal consolidation aimed at returning to the regional deficit anchor of 3 percent of GDP by 2023.
Date Time
IMF Executive Board Concludes 2020 Article IV Consultation with People’s Republic of China
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1]with the People’s Republic of China.
The Chinese economy continues its fast recovery from the pandemic, helped by a strong containment effort and swift policy actions to mitigate the impact of the crisis. GDP growth is projected at 1.9 percent in 2020 and 7.9 percent in 2021, as economic activity continues to normalize and domestic outbreaks remain under control. Core inflation is expected to remain subdued, leaving CPI inflation in 2020-21 below the pre-crisis target of about 3 percent. Corporate leverage is expected to rise by about 10 percentage points of GDP in 2020. The current account surplus is projected to widen to 1.9 percent of GDP in 2020 from 1.0 percent in 2019, before narrowing to below 1 percent in 2021. The projected temporary increase this year r
Program implementation has remained on track throughout the PCI that will expire in January 2021.
Due to the COVID-19 pandemic, Serbia’s real GDP is projected to contract by 1.5 percent in 2020 and recover in 2021 with growth at 5 percent.
The 2021 budget appropriately balances support for economic recovery with fiscal responsibility.
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Fifth Review Under the Policy Coordination Instrument (PCI) for the Republic of Serbia. [1] The Executive Board’s decision was taken without a meeting. [2]
This was the final review under the PCI that was approved on July 18, 2018 (see Press Release No. 18/299 ). Program implementation has remained on track throughout the PCI. The policy program has facilitated macroeconomic and financial stability, while advancing an ambitious reform agenda to foster rapid growth, job creation, and improved living standards. In response to the COVID-19 pandemic, pr