Luxembourg’s 2006 Article IV Consultation reports that the dominant financial sector has supported a steady rebound in economic activity. Growth is projected to remain healthy in the near term, but trend growth may decline as the rapid financial sector expansion may decelerate. The...

Increasing integration to the East has benefited the Austrian economy, but also created vulnerabilities that came to a head with the global financial crisis. The crisis has highlighted old challenges and created new ones that need to be addressed. The banking sector’s return to more...

This 2007 Article IV Consultation highlights that the economy of St. Vincent and the Grenadines is enjoying its second year of vigorous economic growth. Financial sector indicators have strengthened, but balance sheet vulnerabilities remain. Executive Directors have welcomed St. Vincent and the...

This 2007 Article IV Consultation highlights that the Norwegian economy is set to grow strongly in 2007 for the fourth consecutive year. This economic performance is underpinned by strong monetary and fiscal policy frameworks. External demand, both for petroleum products and other Norwegian...

Austria has relatively strong macroeconomic fundamentals, but also deep ties with the rest of the euro area. The legacy of an overly ambitious eastward financial sector expansion has created substantial challenges to its policymakers. Policies have been designed to preserve market confidence,...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Niger. Program implementation to date is satisfactory and all quantitative performance criteria at end-June 2009 were met. The revenue performance is strong and domestic arrears repayment higher...

This paper discusses key findings of the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement for Burundi. Macroeconomic performance under the PRGF-supported program in 2006 was broadly in line with the program. All end-June and end-September 2006 quantitative...

The staff report for the Fifth and Sixth Reviews Under the Poverty Reduction and Growth Facility Arrangement discusses Zambia’s strong macroeconomic performance and budget execution. High copper prices and extensive debt relief helped to strengthen Zambia’s external position and...

This 2007 Article IV Consultation highlights that Côte d’Ivoire’s crisis has taken a heavy toll on growth and social conditions. Per capita income fell by one-sixth, poverty rose, and many social indicators worsened. These developments have also hurt regional trade and output. The external...

Portugal’s economic adjustment has continued, but the contraction in output has been milder than expected. The 2012 outlook for Europe has deteriorated substantially, with growth revised down by 1¼ percentage points relative to spring forecasts. Substantially higher capital...