South Africa showed strong macroeconomic performance owing to its sound policies, which aimed at raising economic growth and reducing poverty, within a stable macroeconomic, social, and political environment. Executive Directors commended the strong economic performance, sustainable fiscal...

India’s strong growth and macroeconomic stability is owed to its sound macroeconomic policies and past structural reforms. Swelling capital inflows have highlighted the key policy challenges: managing financial globalization and tackling the supply constraints to growth. Monetary operations...

The economic expansion in Montenegro is proceeding at full strength. The economy is overheating. Rapid credit growth is overstretching banks, and has contributed to ballooning asset prices. Eroding competitiveness is a concern. Management of the boom falls on fiscal policy. Tax cuts have been...

This 2006 Article IV Consultation highlights that following two years of contraction, output growth in Vanuatu recovered beginning in 2003, spurred by stronger performance in construction and a pickup in tourist arrivals. Growth reached 7 percent in 2005 and an estimated 51⁄2 percent in 2006,...

Kuwait’s 2006 Article IV Consultation reports that its macroeconomic performance has been strong in recent years reflecting sharply higher oil and non-oil activity. Over the medium term, Kuwait’s financial position is projected to remain strong. The large external current account and fiscal...

The Slovak Republic’s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...

Sweden’s 2005 Article IV Consultation reports that strong productivity gains, wage moderation, and falling nonenergy import prices contributed to reducing inflation, and creating room for aggressive monetary easing. Export growth has been led by a strong recovery in the telecommunications and...

This 2006 Article IV Consultation highlights that macroeconomic results for Romania were not as strong in 2005 compared with 2004 on account of both internal and external factors. Growth slowed to 4.1 percent in 2005, with agricultural output falling as a result of floods, and industrial output...

This 2006 Article IV Consultation highlights that following exceptional economic progress, based on macroeconomic stability and economic flexibility, imbalances and cautionary signals have emerged for Lithuania. Centered around nontraded goods production, GDP grew 7.5 percent in 2005. Most...

This 2004 Article IV Consultation highlights that a cyclical recovery is under way for Italy, with real GDP having risen by 1.2 percent in the first three quarters of 2004 relative to the same period of the previous year, thanks to the favorable external environment and a recovery of investment....