Climate change is both a major threat and a source of opportunities for Morocco's development. On one hand, Morocco is one of the world's most water-stressed countries, and water scarcity is a serious constraint to the country's ambition to transition to a new model of development. The...

This paper presents Pakistan's Request for a Stand-By Arrangement. Pakistan's' economic reform program aims to support immediate efforts to stabilize the economy and guard against shocks while creating the space for social and development spending to help the people of Pakistan. Steadfast policy...

This paper presents Somalia's Fifth Review under the Extended Credit Facility (ECF) Arrangement, Requests for Waiver of Nonobservance of a Performance Criterion, Modification of Performance Criteria and Indicative Target, and Interim Assistance. Despite significant challenges, including from the...

This paper presents Morocco's Request for an Arrangement under the Flexible Credit Line (FCL). Morocco qualifies for the FCL by virtue of its very strong policies, institutional policy frameworks, and economic fundamentals and continued commitment to maintaining such policies in the future....

This paper presents the Sixth Review under the Extended Credit Facility (ECF) Arrangement and Request for a Three-Year Arrangement under the ECF. The authorities' strong commitment and successful implementation of reforms to rebuild Somalia's economy and institutions, including the completion of...

This paper presents Armenia's 2023 Article IV Consultation and Second Review under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause. The Armenian authorities continue to treat the SBA as precautionary. Armenia's strong growth...

Economic activity remained robust in FY22, fueled by loose fiscal policy and a delayed monetary response to inflationary pressures. These combined with the international food and fuel price shocks led to a marked deterioration of the external position with an unsustainable current account...

This paper highlights Arab Republic of Egypt's Ex-Post Evaluation of Exceptional Access under the 2020 Stand-By Arrangement (SBA). In early 2020, the Egyptian authorities launched a broad policy response to address the immediate and severe economic disruption caused by the coronavirus disease...

This paper presents Somalia's Second and Third Reviews under the Extended Credit Facility Arrangement, Request for Waiver of Nonobservance of a Performance Criterion, Modification of Performance Criteria, Interim Assistance, and Rephasing of Access and Extension of the Arrangement. The Somali...

This paper discusses Jordan's 2022 Article IV Consultation and Fourth Review under the Extended Arrangement under the Extended Fund Facility (EFF), Request for Augmentation and Rephasing of Access, and Modification of Performance Criteria. Jordan's EFF program remains firmly on track. The...