IMF Executive Board Concludes 2023 Article IV Consultation with Antigua and Barbuda

Antigua and Barbuda’s economy continues to bounce back from the sharp contraction experienced during the COVID-19 pandemic. Real activity is expected to return to pre-pandemic levels this year, with growth projected at 5.7 percent, driven by a rebound in tourism and construction activity. Inflation has declined from 2022 peaks but remains elevated (at 6.6 percent in August this year), accompanied by moderating core inflation. The financial sector is well capitalized and liquid and the share of nonperforming loans is stable, with credit growth remaining weak.

IMF Executive Board Concludes 2023 Article IV Consultation with Greece

Greece’s economic outlook has improved notably. After a strong post-pandemic recovery, economic activity remained robust with real GDP growth projected at 2.3 percent in 2023 and 2.1 percent in 2024. Private consumption will be supported by positive real wage growth while investment will continue to expand with the implementation of the National Recovery and Resilience Plan supported by Next Generation EU funds. Headline inflation is forecast to reach 2 percent by end-2025 as pressures on core inflation will dissipate only gradually despite continued normalization of energy and food prices.

IMF Executive Board Concludes 2023 Article IV Consultation with Ghana and Completes First Review under the Extended Credit Facility Arrangement

• The IMF Executive Board today completed the 2023 Article IV consultation and the first review of Ghana’s 36-month Extended Credit Facility arrangement. Approval of the first review enables the immediate disbursement of SDR 451.4 million (about US$600 million).

IMF Executive Board Concludes 2023 Article IV Consultation with Nicaragua

Nicaragua’s economy has remained resilient in the face of multiple shocks, supported by appropriate economic policies, substantial buffers, and multilateral support. After a very strong rebound in 2021, the economy grew at a steady pace since 2022 and is expected to grow by 4 percent in 2023. Inflation is declining, and the central government is maintaining a small surplus and healthy government deposits. Remittances are projected to reach about 28 percent of GDP at end-2023, double their end-2021 level, and supporting a turnaround in the current account balance to a surplus of about 4 percent of GDP in 2023. The foreign exchange inflows and prudent macroeconomic policies, contributed to a rapid accumulation of gross international reserves to US $5 billion by end-October (or about 6 months of imports, excluding maquila).

Subscribe to