1

2 “... eased in May as the case count moderated. In mid-May, Kenya’s COVID-19 vaccination program faced serious...”

3 “... is for further vigorous growth and moderate inflation. Delays in implementing reforms, at both the national...”

4 “..., maintaining a moderately tight monetary stance in the face of upside risks to inflation and undertaking...”

5 “... is projected to moderate to 5.2 percent in 2016, as oil production stabilizes...”

6 “... more moderate than originally planned and provided project execution speeds up...”

7 “... infrastructure projects. Risks to the near-term growth outlook are moderately tilted to the downside. Adverse...”

8 “... the Extended Credit Facility. Lesotho has maintained robust economic growth, with moderate inflation. The IMF...”

9 “...This 2015 Article IV Consultation highlights that Namibia’s GDP growth slightly moderated to 4.2...”

10 “..., the fiscal revenues from the projects will remain moderate until the mid-2020s because of large depreciation...”

11 “... moderately profitable, but there is downside risk to iron ore prices. The IMF staff supports the authorities...”

12 “... (excluding Nigeria and South Africa). Projections point to a moderate, broad-based acceleration in growth...”

13 “... was moderated, but the country has been hit hard by the oil price shock. Growth rose to 6.8 percent in 2014...”

14 “.... Although Lesotho achieved solid economic growth with only moderate inflation in the several years...”

15 “... of Mauritius has grown at moderate rate; inflation is low; and the external position has improved. However...”

16 “... and inflation moderate during the past two years. Real GDP grew by 7 percent in 2015, with activity particularly...”

17 “... is expected to moderate, while private investment is projected to increase only gradually...”

18 “... implementation despite the challenging internal and external environments. They stressed that although a moderate...”

19 “... moderate given Seychelles’ impressive track record under the successive IMF arrangements. The IMF staff...”

20 “... to an only moderate slowdown in growth to about 7 percent, the fiscal deficit target of 9 percent of GDP...”