This report provides an update of the assessment of Lao P.D.R.'s macroeconomic conditions and outlook presented at the time of the 2004 Article IV Consultation and in the Assessment Letter of March 10, 2005

The global crisis has hit the Maldivian economy hard; combined with an unsustainable fiscal expansion, it has led to a large fiscal deficit and severe balance of payments pressures. The authorities are committed to a strong policy adjustment program, and have requested IMF financial support for...

The new three-year ECF arrangement was approved by the Board on March 16, 2012. The economic outlook for 2012 and 2013 is broadly positive, thanks to the coming onstream of oil production and continuing investment in the natural resource sector. Downside risks to the outlook include the fragile...

This paper presents a study that focuses on specific adjustment programs for limited periods and is aimed largely at analyzing the short-run implications of the policy measures. The longer run implications are also discussed whenever relevant, since much of the rationale for policies and many of...

Capacity development (CD) is one of the Fund's three core activities and has grown in importance in recent years. It supports member countries' efforts to build the institutions and capacity necessary to formulate and implement sound economic policies, thereby complementing the Fund's...

This paper proposes an approach to making the MTS operational as it relates to the Fund's work in LICs that would define more precisely the Fund's responsibility and accountability in the PRSP and donor collaboration processes. The proposed activities are not 'new,' but represent an...

The global crisis has underscored the need for effective global financial safety nets to protect countries with sound policy frameworks from adverse outcomes. Complementing the traditional crisis resolution role of the IMF, which has been instrumental during the recent crisis and is expected to...

Assessment Letters or Statements may be prepared for member countries with Fund-supported programs; receiving Fund emergency assistance; with staff-monitored programs; or surveillance-only cases. They are typically produced for use by the country with multilateral or bilateral donors or creditors,...

In this study, economic developments and achievements, the role of the IMF, strong economic recovery, the formulation and implementation of the government’s budgetary policy, and the progress made in rebuilding fiscal institutions are first discussed in detail. An overview of the challenges...