IMF disburses nearly R8bn to Tanzania under two arrangements
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IMF to provide Ukraine with $500 million after review
Total disbursements under the IMF-supported program for Ukraine will reach $10.6 billion with the new $500 million which will be channeled for budget support, the fund said. IMF said that it maintains Ukraine's 2025 growth forecast at 2%-3%, as a smaller electricity deficit is balanced by lower gas production and weaker agricultural exports. 'Russia's war continues to take a devastating social and economic toll on Ukraine. Nevertheless, macroeconomic stability has been preserved through skillful policymaking as well as substantial external support' the first deputy managing director of the fund Gita Gopinath said. 'The economy has remained resilient, but the war is weighing on the outlook, with growth tempered by labor market strains and damage to energy infrastructure,' Gopinath added. Ukrainian authorities are continuing work to complete their debt restructuring strategy, which is essential to create room for priority expenditures, reduce fiscal risks, and restore debt sustainability, the IMF said. (Reporting by Gursimran Kaur in Bengaluru;; Editing by Chizu Nomiyama )
TimesLIVE
a day ago
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IMF disburses nearly R8bn to Tanzania under two arrangements
The International Monetary Fund (IMF) has approved an immediate disbursement of approximately $448.4m (R7.97bn) to Tanzania under the extended credit facility and resilience and sustainability facility arrangements, the IMF said on Friday.
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Senegal's revised budget sees slightly wider fiscal deficit
Senegal has revised its 2025 budget deficit upward to 7.82% of gross domestic product (GDP) from an initial forecast of 7.08%, according to the draft revised finance bill seen by Reuters on Thursday. The increase is attributed to a drop in projected revenues and a downward revision of nominal GDP, the draft bill said. It cited global economic headwinds and domestic fiscal adjustments as key factors behind the revision. "This development is mainly explained by a decline in budget revenues combined with a downward revision of the nominal GDP," the bill said. Economic growth in the West African nation, which recently started producing oil and gas, is now expected at 8.0% compared with the previous forecast of 8.8% in 2025. An audit in September revealed that Senegal's budget deficit exceeded 10% from 2019 to 2023, more than twice the figures reported by the previous administration. The International Monetary Fund suspended disbursements under its programme with Senegal last year after the country acknowledged misreporting debt and deficit figures, saying discussions on a new arrangement would not proceed until the issue was resolved.
