The economy of the Republic of the Marshall Islands has experienced a strong recovery with a 5.2 percent growth in 2010 following strong improvement in the fisheries sector and a moderate recovery in exports. The financial sector remained focused on consumer lending and contributed little to...

Political instability and weak macroeconomic management have generated negative real per capita gross domestic product growth rates, contributing to widespread poverty and a worsening of social indicators. The challenge is to attain a higher rate of growth on a sustained basis and raise the...

This paper discusses Mozambique’s Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Modification of Performance Criteria. Performance under the program has been broadly satisfactory so far in 2005. All quantitative and...

Performance under the program has been satisfactory. Real GDP growth is higher than estimated owing to substantially higher than projected agricultural production. Burkina Faso continues to depend heavily on external assistance and on cotton exports, and is highly vulnerable to terms-of-trade...

This 2004 Article IV Consultation highlights that real GDP growth of Mauritius is expected to rebound to about 4½ percent in 2003/04. This largely reflects the recovery of tourism and sugar production, and continued strong construction and transportation activity. The current account is...

This 2005 Article IV Consultation highlights that the economy of the Democratic Republic of Timor-Leste remains fragile. Cumulative growth over the last three years was near zero—mainly reflecting the drawdown in the presence of international agencies. Unemployment is high, 40 percent of...

There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment. The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure....

This 2004 Article IV Consultation highlights that the Central African Republic’s period since 2000 has been marked by poor economic performance, owing in large part to military disturbances, but also to weak administration and poor program implementation. The conflict that ended in March...

The Arab Republic of Egypt’s 2005 Article IV Consultation reports that the externally driven recovery has gained steam underpinned by a moderate revival in consumption and improved confidence. The Egyptian pound has appreciated, the stock market has reached record highs, and the current...

This 2004 Article IV Consultation for San Marino reports that the economy has slowed considerably since 2000 with the fading of key competitive advantages that had contributed to past rapid development. To restore a positive net asset position and the ability to buffer adverse external shocks,...