The Republic of Palau (Palau) has always been heavily dependent on external assistance. The availability of steady grants has allowed Palau to maintain a sizable public sector. A number of issues are considered in designing a comprehensive management strategy for the Compact Trust Fund (CTF)....

This 2004 Article IV Consultation highlights that the macroeconomic performance of United Arab Emirates is estimated to have been strong in 2003, reflecting favorable developments in the oil market, higher oil production, and prices. Non Hydrocarbon real GDP growth is estimated to have remained...

This 2002 Article IV Consultation highlights that the economic activity in Tonga rebounded modestly in 2001/02, as real GDP growth accelerated from about ½ percent in 2000/01 (fiscal year July–June) to 1½ percent in 2001/02. Conditions in agriculture improved owing to record-high...

Rwanda’s Second and Third Reviews Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria are discussed. After an extended period characterized by a strong expansion of economic activity, real GDP growth is estimated by the IMF staff to have slowed...

This Selected Issues paper for the Solomon Islands reviews budget trends in the past decade and assesses medium-term budget prospects. Aid flows and revenue from import tariffs and logging are projected to decline. Spending pressures are likely to pick up considerably, owing to the need to...

This paper reviews Zambia’s First Poverty Reduction Strategy Paper (PRSP) Implementation Progress Report covering January 2002–June 2003. The report describes the first one and half years of the implementation of the PRSP in four strategic areas, namely economic and social sectors,...

This Selected Issues paper for Austria reports the impact of the government size, in addition to tax and expenditure composition, on real GDP growth. In addition to having a large public sector relative to the European Union (EU) 15 average, the composition of revenues is skewed, on the one...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by...

This 2004 Article IV Consultation highlights that in 2003, the economy of Ireland rebounded with GNP growing by almost 3 percent. Recent indicators suggest that activity has continued to strengthen in 2004. During 2003, inflation decelerated and is now close to the euro area average. Most...

This paper presents the Joint Staff Assessment of Zambia’s Poverty Reduction Strategy Paper (PRSP) Progress Report. The report concludes that the implementation of the PRSP has been weaker than intended because of the extreme pressures placed on the budget by extrabudgetary expenditures,...