This paper reviews economic developments in the Comoros during 1992–95. The economic performance of the Comoros during 1991–94 was characterized by real growth of about 1.6 percent a year on average, large financial imbalances, an eroding export base, and the accumulation of large domestic...

This Background Paper and Statistical Appendix reviews the real economy and systemic reforms in the Republic of Kazakhstan during 1993–94. In early 1994, the Kazakh authorities launched a major stabilization program to improve the financial situation and reinforce the structural reforms. A...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

St. Kitts and Nevis is a small, open economy in the Eastern Caribbean. Hurricane damage and its effects on tourism, sugar industry, construction, and mining and quarrying industry are discussed. Stability in the financial system has supported economic activity in recent years. Overall, capital...

The current slowdown in the Norwegian economy has followed an exceptionally prolonged phase of expansion. The current slowdown in economic growth is expected to continue. Over the longer term, the public finances face challenges as oil revenues begin to run out and pension liabilities escalate....

The Dominican government’s main policy objective is to create the basis for the sustained growth of output and employment through economic diversification and financial stability. The structure of the economy has continued to shift away from banana production, with services gaining importance...

Hong Kong Special Administrative Region (SAR) underwent a painful period of recession and adjustment during the Asian crisis. The adjustment in prices under the linked exchange rate system is well under way. Fiscal policy should continue to provide support for the recovery. Unemployment has...

The primary source of hyperinflation has been unbridled monetization of an uncontrolled budgetary deficit. The Central Bank of the Congo (BCC) has lost control of monetary policy, and its role has been reduced to financing the fiscal deficit. The IMF staff agrees with the government that...

The economic recovery since 2004 has been accompanied by a steady rise in inflation. Several factors have contributed, including an expansionary monetary stance (with credit to the private sector growing by some 45 percent). Although pleased with the recent improvement of the economy, the...

The staff report for the 2007 Article IV Consultation on Guinea-Bissau highlights post-conflict challenges and recent economic developments. The conflict and ensuing political instability have taken a toll on growth and economic policies, and most macroeconomic indicators have worsened in the...