This is part of the previously approved program size of USD 1.2 billion to help the country face medium-term balance of payments problems.
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According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
An International Monetary Fund staff team has released an end-of-mission statement on the country’s economy saying investment in green growth opportunities could boost Brazil’s economic potential.
IMF report says the foreign demand for real estate, international ties and the Arab country’s safe haven status drive rapid growth in house prices and an increase in rents.
After a visit to the country and discussions with Kuwaiti authorities, the International Monetary Fund says the economy is projected to contract by 1.4% in 2024.
Humanitarian situation in the Arab country remains difficult with over half of the population facing food insecurity, and a contracted economic activity caused by the halt in oil exports.
The International Monetary Fund (IMF) said that notwithstanding the pickup in growth, continued efforts to address water scarcity and enhance governance are essential to bolster Morocco’s growth.
After Egypt Central Bank hiked interest rates, IMF released additional loan to the country. Pound was trading at a record low and prices rose.
Director-General Ngozi Okonjo-Iweala said the two countries put in a “hard work” and implemented beneficial but challenging reforms.
This year’s GDP projections are based on the World Economic Outlook review, which also estimated 1.7% growth for Brazil.
The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
The Arab country’s economy is projected to sustain its 2023 growth rate this year, according to the Fund’s projections. The IMF approved a new disbursement to support Jordan’s economic development.
Projections by the International Monetary Fund also estimate a deficit for 2024 due to the slowdown in economic activity and increased public spending.
Mubadala Capital energy firm headquartered in Bahia launched at COP28 a renewable fuel project based on the oil harnessed from macaúba, a Brazilian native fruit.
