After contracting more than 5 percent in 2020, Kosovo's economy is projected to have recovered by 7.5 percent in 2021, thanks to mobility normalization, extraordinary diaspora inflows, and strengthened confidence. Improved vaccination rates supported these trends and mitigation and recovery...

While Barbados has been making good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth, it continues to face major challenges owing to the global pandemic. International reserves have...

Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies. Uzbekistan entered the COVID-19 crisis with relatively strong macro-economic fundamentals

This paper discusses the Republic of Serbia's Third Review Under the Policy Coordination Instrument (PCI). Serbia is the second IMF member country to request a PCI and aims to maintain macroeconomic and financial stability, while advancing an ambitious reform agenda to foster rapid growth, job...

This paper presents an overview of the Sixth Post-Program Monitoring Discussions with Portugal. The Portuguese economy has strengthened. Supported by a benign external environment, job-rich growth has gathered momentum since late 2016. The headline fiscal balance continued to benefit from...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by a PRGF...

Madagascar showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) program. Executive Directors agreed that the crisis has undermined the timely achievement of the program, requiring the government to redouble its efforts. They welcomed the 2003 budget and stressed...

This paper examines Tanzania’s 2004 Article IV Consultation and Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Tanzania has continued to maintain macroeconomic stability and to make substantial progress in structural reform. Real GDP growth has...