This Selected Issues paper examines the main factors explaining Ukraine’s growth performance so far, assesses whether the recent recovery is sustainable, and provides a quantitative analysis of long-term growth prospects. It finds that the recent recovery is not yet self-sustaining and...

This paper reviews economic developments in Lithuania during 1993–96. Economic growth resumed in 1994 and gained further momentum in 1995; real GDP increased by an estimated 3 percent in 1995. Growth in 1995 was driven by the industrial sector, while agriculture performed poorly. The...

This 2004 Article IV Consultation highlights that economic growth in New Zealand slowed in early 2003 but rebounded in the latter part of the year. Real GDP growth declined from 4¼ percent in 2002 to a seasonally adjusted annualized rate of 2¾ percent in the first half of 2003, amid...

This Selected Issues paper and Statistical Appendix examines banking sector developments in the Republic of Tajikistan. The paper estimates quasi-fiscal activities in the energy sector, and provides an assessment of external sector trade and the need for further trade reform. Developments in the...

How do signatures required for exporting and business registration procedures affect the volume and composition of country's exports? To answer this question, I develop a model where a country can export two types of products: differentiated and homogeneous. I show that export signatures and...

This paper analyzes whether uniform tariffs give rise to the highest welfare compared with tariffs that either escalate or de-escalate along the value chain of production. We show that countries may be better off with de-escalating tariffs where tariff rates are higher on intermediate inputs and...

This paper examines the potential advantages and disadvantages of adopting a common currency arrangement among the six IMF member Pacific island countries that have their own national currency. These countries are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu. The study...

The report highlights IMF's projections and estimates of Lebanon's central government operations, revenue and grants, and expenditure by economic classification, government debt, monetary survey, commercial bank interest rates on Lebanese pound transactions and U.S. dollar transactions during...

This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 4½ percent while consumer prices declined. The favorable developments in the oil market contributed to...

This Selected Issues paper aims to present a medium-term reform strategy that could be pursued by Libya to accelerate its transition to a market economy. The paper reviews the main characteristics of the Libyan economy, and medium-term prospects under current policies. It examines the priority...