An IMF mission visited Dakar in November 2025, and discussions with Senegalese authorities on a new program are ongoing. A new mission chief, Mercedes Vera‑Martin, will travel to Dakar next week for introductory meetings with the new authorities and to review recent macroeconomic developments.
“We did have a mission to Dakar in November 2025. And then following that mission, IMF staff and the Senegalese authorities are continuing to advance discussions on a new program. We do have a new mission chief for Senegal - Mercedes Vera-Martin - and she will visit Dakar next week. The purpose of her visit will be for initial meetings, introductory meetings, with the new authorities and discussions of recent macroeconomic developments. Given that her visit is primarily introductory in nature, we don't expect any communication following that mission.” said Julie Kozack, Director of the IMF’s Communications Department in a press briefing held today, January 15, 2025.
India continues to serve as a major driver of global growth.
“India is a key growth engine for the world. India's growth in 2025, when we did our Article IV staff report, we had estimated growth for fiscal year 25-26 at 6.6%.” shared Kozak.
An IMF fact‑finding mission will visit Sri Lanka from January 22–28 to assess the scale and impact of the recent cyclone and examine implications for the EFF program. The trip is strictly to gather information and better understand how to support Sri Lanka going forward.
“A fact-finding mission will visit Sri Lanka - January 22nd to 28th.The goal of the mission is to firm up our understanding of the size and the scope of the damage caused by the cyclone. The team will discuss with the authorities their policy intentions and implications of the impact of the cyclone for the EFF program. But I would like to underscore that this is a fact-finding mission to enable our team to get a better understanding of the situation on the ground and how we can best support Sri Lanka as it moves forward.” said IMF communications Director.
Argentina started the year strongly, with stabilization measures improving market sentiment. After a contraction in 2024, the economy is estimated to have grown by 4.5% in 2025, while inflation fell sharply to around 30%, an eight‑year low. The IMF welcomes the approval of the 2026 budget and efforts to pass labor‑market reforms. Reserve rebuilding has accelerated, supported by updates to monetary and FX frameworks—including a pre‑announced FX reserve purchase program—with the central bank consistently exceeding its reserve‑purchase floor.
“Argentina has begun this year on a robust footing. We see continued progress in stabilization efforts and that is helping to boost market sentiment in Argentina. After the economy contracted in 2024, it is estimated to have expanded in 2025 by 4.5%. Inflation has fallen from triple digits in 2024 to around 30% at the end of 2025 and that is the lowest level of inflation in Argentina in eight years. We welcome congressional approval of the 2026 budget. This is the first in two years and it's consistent with a zero overall fiscal balance anchor for Argentina. We also welcome ongoing efforts to secure support for legislation, aimed at reducing labor market informality, and increasing labor market flexibility. We are also very encouraged by the authorities ongoing action to rebuild reserves. These actions are supported by recent adjustments to the monetary and FX frameworks, including the introduction of a pre-announced FX reserve purchase program. While it is still early in the process. Reserve accumulation has started the year at a faster than anticipated pace. The central bank reserve purchases have exceeded the 5% of daily FX volume floor on most days.” said Julie Kozack.
To watch the full press briefing, click here.
