This paper opens up a study of deficit financing and management of the public debt in the context of the COVID-19 outbreak in the Philippines. Borrowings of the national government from the monetary authority and from domestic and international financial markets, as well as the options for...

The staff report for the Request for a Three-Year Policy Support Instrument (PSI) on Senegal explains economic developments. Allocations for priority spending suffered, and cash-flow problems resulted in payment delays to the private sector. The authorities intend to tackle key policy challenges...

Portugal's economy faced severe crisis during the global economic and financial crisis. In this context, Portugal's authorities have put forward an economically well-balanced program that will focus on structural reforms to boost growth and employment, ensure balanced fiscal sustainability,...

Improvements in macroeconomic conditions are encouraging, and the current macroeconomic framework for 2006 and 2007 remains valid in Paraguay. The strong fiscal performance has applied also to the rest of the public sector. The authorities have submitted a budget proposal for 2007 that preserves...

The report provides the third Review of the Republic of Croatia Under the Stand-By Arrangement (SBA). Policies under the SBA have sought to reduce Croatia’s savings-investment imbalance and stabilize the external debt-to-GDP ratio. Executive Directors agreed that the main success of the...

Myanmar is a low-income country, and with the right reforms, it can realize its rich economic potential. The government has embarked on a bold and historic set of reforms, which are already bearing fruit. Executive Directors support the steps for ensuring macroeconomic stability. Exchange rate...