The Public Finance Review (PFR) analyzes Lebanon's public finances over a long horizon, to understand the roots of the fiscal profligacy and its eventual insolvency. To do so, the PFR links three critical elements in three Sections. Section I: Fiscal Policy in the Second Republic; Section II:...

Greece adopted an ambitious program to eliminate fiscal and current account imbalances, regain competitiveness, maintain financial stability, and boost growth and employment. While significant fiscal adjustment occurred, critical objectives such as regaining confidence and restoring growth were...

This 2013 Article IV Consultation highlights that the Czech economy, despite its strong fundamentals, is in the midst of a prolonged recession because of the euro area slump and weak domestic demand. A further slowdown in the euro area would exacerbate the situation, creating the risk of lower...

Program implementation has been satisfactory, and all assessment criteria were met. The fiscal deficit was reduced to 5.9 percent of GDP despite a significant revenue shortfall. Delays were incurred in the implementation of reforms in the energy sector. The authorities intend to accelerate...

The key findings of the Czech Republic’s 2010 Article IV Consultation are discussed. Large foreign direct investment inflows fostered trade integration, underpinning an export-led expansion. Higher initial standard of living contained consumption convergence pressures. An improved fiscal...

The staff report for the 2007 Article IV Consultation on Sri Lanka highlights economic growth development and performance. Rising inflation, a high current account deficit, and low unemployment rate indicate that the economy may be operating at full capacity. High stock of public debt, rising...