IMF Executive Board Concludes 2023 Article IV Consultation with Iceland
The Icelandic economy has shown remarkable resilience and rebounded quickly from the multiple shocks in recent years. Real GDP grew by 6.4 percent in 2022, the fastest since 2007, on the back of a strong rebound in tourism and domestic demand, and higher incomes from an improvement in the terms of trade. The economy is currently operating well above potential which, together with high import and house prices, has pushed inflation significantly above target, and contributed to external imbalances. The Central Bank of Iceland has raised the policy rate by 800 basis points between April 2021 and May 2023, and tightened macroprudential measures. Fiscal policy was contractionary in 2022, though not enough to sufficiently slow domestic demand, and the underlying fiscal stance deteriorated.
What: Young African and Japanese women entrepreneurs networking webinar
The African Development Bank is extending $108 million to Tanzania to enhance livelihoods through support to small and medium enterprises, women and youth.
What: African Development Bank’s Adesina to speak at 2023 OPEC Fund Development Forum
The African Development Bank Group has released its 2022 Annual Report. The report shows solid performance over the year, recording a significant increase in lending to the Bank Group’s regional member countries in the face of a challenging global environment for Africa.
What: Alliance for Green Infrastructure in Africa hosts roundtable on the side-lines of the Summit for a New Global Financing Pact
What: Roundtable discussion on Debt and SDR Channeling: Where are we and how to go forward?
An attendant at Kathulumbi Health Center draws water from a tank provided courtesy of the Thwake Dam Project, Makueni County, Kenya.