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International Monetary Fund

An inland oil rig
Fiscal Policy

Uganda set to outpace region as IMF flags oil-driven growth surge

IMF forecasts place Uganda among the world’s fastest-growing economies as oil production nears, even as risks rise across sub-Saharan Africa
Mr Zeine Zeidane

IMF Managing Director Kristalina Georgieva appoints Zeine Zeidane as Director of the African Department

Mr Zeidane, a Mauritanian national, has over two decades of experience in macroeconomic policymaking and international economic cooperation
Scattered South African rands notes against a white background.
Middle East war

The Middle East war is hurting Africa. Here is how the continent fights back

As the Middle East war pushes African currencies lower and borrowing costs higher, a Pretoria scholar sets out how the continent must respond
The offices of the Ministry of Finance and Economic Development in Kampala

Uganda’s oil moment approaches — but the risks are multiplying

Uganda's first oil is due in H2 2026, but timing risks, fiscal pressures, and a Middle East conflict cloud the outlook
An outdoor discussion, with two female panellists seated in the chair, and other female holding a microphone and standing, as well as an audience

IMF upgrades sub‑Saharan Africa forecast as reforms blunt external shocks

The IMF has raised its growth forecast for sub-Saharan Africa, crediting improved macroeconomic management in several large economies and resilience amid external pressures
Street art in Dublin against IMF/EU debt, June 2013. The recent Kenyan anti-tax protests are a warning that the International Monetary Fund (IMF) is failing. The public does not think it is helping its member countries manage their economic and financial problems, which are being exacerbated by a rapidly changing global political economy. The IMF has provided financial assistance to Kenya; however, the funding comes with strict conditions that suggest debt obligations are more important than the needs of long-suffering citizens. This is despite the IMF's claim that its mandate now includes helping states deal with issues such as climate, digitalisation, gender, governance, and inequality. Unfortunately, Kenya is not an isolated case. Twenty-one African countries are receiving IMF support. In Africa, debt service, on average, exceeds the combined amounts governments are spending on health, education, climate and social services. The tough conditions attached to IMF financing have led the citizens of Kenya and other African countries to conclude that a too powerful IMF is the cause of their problems. However, research into the law, politics and history of the international financial institutions suggests the opposite: the real problem is the IMF’s decline in authority and efficacy.

The IMF is failing countries like Kenya: why, and what can be done to stop it

IMF’s declining resources relative to the size of the global economy has meant less funding than members need, forcing austerity and weakening its bargaining position in crises
A large group of youths protesting against proposed tax increases in Nairobi, June 2025

The roots of the economic turmoil that led Kenyan youth to take to the streets

Corruption, a perennial problem in Kenya, has become a major source of anger; young people, who see corruption everywhere, from the street to offices, feel that it has stolen their future
Globe weighed down by a chain and labelled 'debt': global debt crisis, economic burden, financial instability, liquidity crisis

The liquidity crisis in developing countries is not over

External debt ratios of low-income and lower-middle-income countries are lower than before, but liquidity pressures have increased due to various shifts in the global economy
An outdoor discussion, with two female panellists seated in the chair, and other female holding a microphone and standing, as well as an audience

After 50 years, the World Bank and IMF return to Africa, and with them a dated approach

The two institutions' one-size-fits-all approach to Africa is one of several flaws limiting their effectiveness in addressing current global challenges

More International Monetary Fund

8 November 2021

The World Bank and IMF are using flawed logic in their quest to do away with the informal sector

Recent reports by the World Bank and the IMF claim, wrongly, that informal economies undermine efforts to boost tax income and economic growth

7 May 2020

Uganda receives IMF loan to stave off coronavirus impact

The International Monetary Fund said on Wednesday that it had approved a $419.5m (Shs1.6 trillion) loan to Uganda to help combat the economic fallout of the Covid-19 coronavirus pandemic

The offices of the Ministry of Finance in Kampala.
16 April 2020

Africa’s big asks at this year’s IMF and World Bank spring meetings

The scale of the economic onslaught wrought by the coronavirus pandemic will dominate discussions at the International Monetary Fund (IMF)/World Bank spring meetings scheduled to take place – for the first time ever virtually – on 17 to 19 April

World Bank Group headquarters in Washington, D.C.
8 February 2019

The World Bank needs to reform and adapt to the changing world order

By nominating an American to head the World Bank, President Trump is continuing an outmoded tradition that does not take into account significant changes in the global distribution of power

Nigeria's Ngozi Okonjo-Iweala at the World Economic Forum in Davos, 2010
30 January 2018

Top job for South African gives African countries sway at the IMF

South Africa’s Reserve Bank Governor, Lesetja Kganyago, has been selected as the first sub-Saharan African to serve as chair of the International Monetary and Finance Committee

17 April 2017

IMF warns on Kenya’s interest cap law, but gov’t says too early to tell impact

Kenya's interest rate cap law has had "unintended negative consequences" on credit availability for small and medium-sized firms, and is also undermining the effectiveness of monetary policy, according to the IMF.

The entrance to the Parliament Buildings, Nairobi, Kenya