IMF
IMF cuts Spain's growth forecast to 2.1% due to Iran war
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The International Monetary Fund has cut its growth forecast for Spain's economy by two tenths, to 2.1% in 2026 and 1.8% in 2027, due to the Middle East conflict. The organization attributes the adjustment mainly to rising oil and gas prices. It recommends eliminating rent controls and taking stronger action on housing.
Kenya's government has announced plans to return to the International Monetary Fund (IMF) for fresh financing to address the budget deficit, while pursuing privatisation of state-owned enterprises. An IMF team arrived in Nairobi to start negotiations on a new three-year arrangement. This follows the collapse of the previous Extended Fund Facility (EFF) and Extended Credit Facility (ECF) programmes in March 2025.
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Hassan Abdalla, governor of Egypt's Central Bank, joined the second AlUla Conference for Emerging Market Economies, stressing that the bank's role is not to push the currency up or down but to build a resilient policy framework. He outlined Egypt's economic reform program launched in March 2024, noting inflation's drop from around 40% to nearly 12%. He also highlighted improvements in key economic indicators amid global challenges.
The International Monetary Fund has reached a staff-level agreement with Ethiopia on the fourth review of its $3.4 billion Extended Credit Facility arrangement. This agreement paves the way for a $261 million disbursement, bringing total financial assistance to $2.13 billion. The IMF urged continued forex reforms and fiscal discipline to support economic stability.
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A high-level delegation from the International Monetary Fund (IMF) is in Ethiopia to discuss financial cooperation with government officials following the technical conclusion of the Fourth Review under the Extended Credit Facility (ECF). This visit builds on a constructive meeting last month between Prime Minister Abiy Ahmed and IMF Managing Director Kristalina Georgieva at the G20 summit in Johannesburg. However, no immediate consensus has been reached, with policy and technical differences persisting.
The International Monetary Fund has concluded its 2025 post-financing assessment with Angola. The review evaluates economic policies and progress. Recommendations for fiscal stability were provided.