African Development Bank to launch Regional Economic Outlook 2023 Report for Southern Africa
What:
Launch of African Development Bank’s Regional Economic Outlook 2023 Report for Southern Africa
Who:
IMF Executive Board Concludes 2023 Article IV Consultation with Kingdom of Lesotho
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Kingdom of Lesotho. Lesotho’s economy continues to face a number of challenges in the wake of the pandemic. Climate shocks, delays to infrastructure projects, high food and fuel prices, declining diamond prices, layoffs in the textiles sector, and weak regional and external demand are weighing on activity. High public expenditure also continues to distort incentives and hinder private sector development.
The Political Economy of GovTech
IMF Notes No 2023/003
IMF Staff Concludes Virtual Visit to Georgia
An International Monetary Fund (IMF) team led by Mr. James John held virtual meetings with the Georgian authorities during July 13-21, 2023 to discuss recent economic and financial developments and progress on reform priorities.
IMF Executive Board Concludes 2023 Article IV Consultation with Tuvalu
A successful vaccination strategy allowed Tuvalu to lift COVID containment measures at the end of 2022, but the economic cost of the pandemic has been significant. Real GDP growth was -4.3 percent in 2020, with at-the-border containment measures leading to delays in much-needed infrastructure projects. Activity has not fully recovered to its pre-pandemic level, with growth in 2021 at 1.8 percent and estimated at 0.7 percent for 2022. Headline inflation rose to 11.5 percent in 2022 in the context of higher global inflationary pressures, an increase in transportation costs around the world, and the increase in global food prices in the wake of Russia’s invasion of Ukraine. Fiscal savings from the pandemic-related reduction in public investment were partly offset by elevated spending on non-capital items.