The Czech government has made further progress in improving fiscal transparency that was already high by international standards. The measures implemented to broaden the coverage of general government data have been commended. Improved reporting on fiscal risks, including those arising from...

The Czech government placed high priority on implementing and observing the international standards relevant for financial stability. The supervisory staff exhibited a high understanding of best international supervisory standards, policies, and practices. Nevertheless, the report noted...

Of the new members entering the European Union (EU) in May 2004, several had achieved a decade of impressive export growth, expanding significantly their shares of world markets. The empirical analysis shows that over the period 1994–2004, quality and technology upgrading associated with the...

This study, another in the series focusing on special issues in transition, reviews the experience of output decline and recovery in the 25 countries of eastern and central Europe and the Baltics, Russia, and other countries of the former Soviet Union. Although these countries began the process...

The last comprehensive discussion of reform of the international monetary system (IMS)-the set of official arrangements that regulate key dimensions of balance of payments-international reserves, exchange rates, current payments, and capital flows-was held nearly four decades ago. In light of...

This 2005 Article IV Consultation highlights that recent accession to the European Union and gains in growth performance reinforced the Czech Republic’s position as one of the most open and developed economies among the new member states. Thanks to substantial foreign direct investment, its...

The Czech government has made impressive progress in bringing the antimoney laundering (AML) regime of the Czech Republic into compliance with both European and international standards. The Czech government has undertaken important steps toward completing the legal and institutional framework to...

This paper presents an update to the Czech Republic’s Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency, Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency. The Czech Republic continues...