Strong economic policies and a supportive external environment have contributed to rapid growth, low inflation, strengthened external position, and an improved debt structure helping Uruguay perform well under the Stand-By Arrangement. Executive Directors commended the fiscal and monetary...

This paper describes Liberia’s First Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria. Nonresource real GDP growth, in particular, while still on an upward trend has been...

This 2007 Article IV Consultation highlights that sustained and bold reforms, prudent macroeconomic management, and a favorable external environment enabled the Egyptian economy to register another year of impressive performance. Growth remained high and has become more broad based, creating...

Structural reforms and strong macroeconomic policies of Burkina Faso have promoted economic growth and low inflation over the past decade. Executive Directors welcomed this development, and encouraged the authorities to reduce the fiscal deficit and maintain fiscal and external debt...

This paper examines the Republic of Moldova’s Fourth Review under the Poverty Reduction and Growth Facility and request for Waiver of Nonobservance of Performance Criterion. Investors have been attracted by Moldova’s low costs, and export prospects have improved with the resumption...

Poland’s macroeconomic performance was strong in the decade leading up to the global crisis. Poland’s commitments to the EU Stability and Growth Pact helped lower the fiscal deficit and limit government debt. Its strong financial supervisory framework helped foster a...

Morocco’s track record of sound economic policies helped it withstand the recent economic crisis and regional social events. High oil prices have contributed to a build-up of fiscal and external pressures, but the government has taken action to address these vulnerabilities and are...

Well-balanced macroeconomic policies, accompanied by an improvement in terms of trade during recent years, have allowed Bolivia to achieve very positive macroeconomic results. The 2012 Article IV Consultation highlights that the outlook for 2012 is favorable and short-term downside risks are...

Macedonia’s economic performance under the program has remained strong, reflecting the authorities’ commitment to build on the progress made and to advance the reform agenda. The average inflation rate was 2.3 percent, although it started to pick up recently owing to a relatively...

This paper examines Côte d’Ivoire’s debt sustainability analysis undertaken in connection with the Enhanced Initiative for Heavily Indebted Poor Countries. The crisis years led to a substantial increase in poverty and deterioration in living standards. The March 2007 Ouagadougou Political...