The art of financial programming is a central element in the design of IMF-supported macroeconomic adjustment programs. This volume, edited by Richard Barth and William Hemphill, includes contributions from staff members of the IMF institute and introduces the reader to the concepts and tools of...

This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluation. The effects of postponing adjustment depend on the source of the original...

The paper deals with the two parts of the short-run adjustment problem in developing countries: the improvement of the current account and the reduction of inflation, the main cause in both cases being usually a fiscal deficit. It is shown how the two parts are related. Distinctions are made...

Mozambique is an economic success story in Sub-Saharan Africa (SSA). Its remarkable achievements offer valuable lessons to other low-income countries in a post-stabilization economic phase, including how they can efficiently manage a scaling up of foreign aid aimed at poverty reduction. Of...

This 2004 Article IV Consultation highlights that Costa Rica’s economic performance improved in 2003. Following several years of slow growth, real GDP rose by 51⁄2 percent, boosted by a recovery of exports and strong private investment. Inflation declined below 10 percent while unemployment...

This 2002 Article IV Consultation highlights that since 2000, economic growth in Costa Rica has slowed to about 2 percent. Inflation has remained at 10 percent, and unemployment has remained at about 6 percent. The external current account deficit has increased to about 5.5 percent of GDP,...

Costa Rica’s economy has been hit hard by the global crisis, but active policies have helped preserve stability and mitigate the negative impact on growth. This 2009 Article IV Consultation highlights that despite the worsening of economic activity, the banking sector has remained sound....

This 2001 Article IV Consultation highlights that the economic performance of Costa Rica weakened in 2000. Real GDP growth slowed to 1.7 percent, from more than 8 percent a year in 1998–99, reflecting in part deterioration in terms of trade, the end of the construction phase of a large foreign...

Updates the Board on progress in the WTO negotiations under the Doha Development Agenda in the run-up to the Hong Kong SAR Ministerial in December, and presents proposals on aid for trade to be submitted to the Development Committee and International Monetary and Finance Committee in September...

This paper summarizes recent developments in the Doha Round negotiations, and aid for trade. As requested by the Development Committee last September, it reviews existing mechanisms for cross-country and regional aid for trade needs. It proposes possible options to overcome the coordination and...