KEY ISSUES Context. Growth recovered and inflation declined sharply in 2013. Leverage has risen, with real estate a major beneficiary, but providing only a muted growth impulse. Intensive use of macroprudential measures recently stabilized house prices, which had grown rapidly. The financial...

This Selected Issues paper examines macroeconomic impact of migration in Australia. Migration in Australia has historically been a significant source of population growth, with a third of the population born overseas. Migration is set to become even more important as the population natural...

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...

This Selected Issues paper analyzes inflation dynamics in Australia, with a special focus on wages. The paper finds inflation dynamics in Australia are similar to what is seen in most advanced economies in recent quarters, with inflation primarily driven by cyclically sensitive components. While...

The Korean economy is slowing in the face of strong global headwinds. It is projected to bottom out during the course of 2012, regaining momentum towards the end of the year, in line with the global recovery. The main short-term risk to the outlook is a further intensification of the euro area...

Against the backdrop of generally sound policies and abundant natural resources, Lao P.D.R. has made impressive progress in developing its economy and reducing poverty. The key challenge going forward is to ensure that economic policy frameworks stay ahead of the curve to achieve sustainable and...

Growth in the first half of 2018 was softer than in 2017, especially in advanced economies. In contrast, growth remained robust in emerging market economies and broadly in line with expectations. After rising to 6.9 percent in 2017, growth in China continued to be strong into the first half of...

This 2014 Article IV Consultation highlights that the GDP growth in Bhutan has slowed from about 10 percent in FY2011 (July 1-June 30) to 5 percent in FY2013. Slower growth reflects policy efforts to contain overheating pressures in the form of restrictions on credit for construction and...