This technical note on financing of the private sector for Mexico describes the evolution, composition, and determinants of financing to the nonfinancial private sector in Mexico between 2000 and 2005. Equity issuance has not played an important role in financing the private sector in Mexico...

The adverse impact of the crisis on Luxembourg’s growth outlook is partly mitigated by the authorities’ well-conceived fiscal policy response. The staff report for Luxembourg’s 2009 Article IV Consultation highlights economic developments and policies. It combines...

This paper discusses Mexico’s organizational arrangements for effective financial system regulation, supervision and policymaking. Reforms implemented encompassed the legal framework, operational arrangements, and information systems, as well as transparency and information disclosure...

Switzerland was hard hit by the global crisis; however, the 1.5 percent contraction in 2009 compares favorably with most industrial countries. This 2010 Article IV Consultation highlights that after a year-long decline in real GDP, the economy exited the recession in mid-2009. In response to the...

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...

Economic developments and growth of Jamaica are discussed in this paper. Despite the good performance under the program through end-September, mounting spending pressures and delays in some fiscal reforms have required the adoption of corrective measures by the authorities. The authorities...

Uruguay’s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...

The paper identifies France’s structural reforms that would yield the largest competitiveness gains based on macro-empirical evidence, and reviews signs of potential gains from a deregulation of the services sector. It is expected that completing deregulation in the services sector would...

In this study, the stability of Germany’s financial sector after the global crisis is discussed. The stability issues are explained in terms of financial system vulnerability and the banking system. Financial soundness indicators (FSIs) prove the stability of the banking system. A stress...

This paper focuses on Lebanon’s performance under the program supported by emergency post-conflict assistance. The end-March quantitative target on international reserves was met with a wide margin. While the primary balance target was also met, the program ceiling on net government...