The paper suggests steps to improve the efficiency of the foreign exchange market in Jamaica, and to promote its development. The financial system in Jamaica has undergone significant improvements. The most pressing problem continues to be inadequate liquidity. The results of various approaches...

This Selected Issues and Statistical Appendix paper on Bosnia and Herzegovina provides background information for the 1999 Article IV Consultation with Bosnia and Herzegovina. The economy has been dominated by a small number of large state-owned enterprises. A central policy was settled during...

This Selected Issues paper analyzes the Ukrainian business cycle. It focuses on the price of steel—Ukraine’s major export—and its relation to the economic performance. It establishes a forecasting model for steel prices, which points to downside risks to steel prices. It discusses the...

The Timorese economy has improved owing to high oil-financed public spending and a rebound in agriculture, non-oil growth. Despite high bank deposit growth, private sector credit has remained stagnant. The medium-term outlook for growth is positive. Timor-Leste’s key challenge remains to use...

Burkina Faso's sustained adjustment effort has been supported by the IMF under successive programs since 1991. Macroeconomic performance was favorable in 1999. Monetary policy is conducted at the regional level by the Central Bank for West African States and remained prudent. In 1999 and early...