This paper presents a debt sustainability analysis for St. Lucia. The medium-term scenario prepared by the IMF staff assumes continued fiscal consolidation and thus is compatible with sustainable debt levels even in the presence of adverse economic shocks. Stress tests show that stabilizing the...

This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the...

This paper focuses on the increase in the external debt stock that reflects donor financing, including IMF and Bank lending to help Mongolia smooth its fiscal adjustment path after the major terms of trade shock. The fiscal deficit is expected to steadily decline until revenues from the Oyu...

This paper examines recent developments and regional policy issues for the Central African Economic and Monetary Community (CEMAC). The CEMAC region benefited in 2000–01 from favorable world oil prices. This helped to improve the public finances and to strengthen the reserve position of the...

There has been a marked deterioration in the economic and financial performance of the West African Economic and Monetary Union (WAEMU) as a whole. These developments reflected unfavorable terms of trade, political conflicts in certain countries, and a weakening of adjustment policies. Progress...

This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU). Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union,...

Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the...

This paper on recent developments and regional policy issues in the Central African Economic and Monetary Community (CEMAC) discusses the recent development and trends in economic integration. Trade restrictions and an uneven application of CEMAC rules constrain external and intraregional trade....