This paper describes the Kingdom of Lesotho’s Poverty Reduction Strategy Paper and National Strategic Development Plan (NSDP) 2012/13–2016/17. NSDP recognizes, as a point of departure, the need and urgency for Lesotho to radically transform its economy. To achieve the National Vision goals...

This paper discusses the Poverty Reduction Strategy Paper—National Development Plan for the Democratic Republic of Timor-Leste. The plan has been a participative process, involving constituents in every sector of the economy to identify the problems they face and to suggest solutions to those...

The Federated States of Micronesia (FSM) remains at high risk of debt distress under the Debt Sustainability Framework (DSF). Unless the compact agreement with the United States or parts of it are renewed, the FSM will face a fiscal cliff when the U.S. Compact grants amounting to 20 percent of...

This Selected Issues paper on the Federated States of Micronesia (FSM) underlies economic development. Since independence, the FSM has been heavily dependent on assistance from the United States. With government expenditure of more than 60 percent of GDP, the private sector remains...

The staff report for the 2004 Article IV Consultation on the Federated States of Micronesia (FSM) focuses on economic developments and policies. Fiscal and structural reforms are needed for the FSM to achieve self-sufficiency. The large government sector will be increasingly unsustainable given...

This paper analyzes recent economic developments in the Federated States of Micronesia. Real GDP grew by a modest 1 percent in 1995, well below the average growth rate recorded during 1991–94, according to tentative estimates prepared by the IMF staff. The overall fiscal balance of the...

The economy has recovered following the stabilization of commodity and food prices. The Article IV discussions focused on policies to secure a sustained recovery and achieve long-term economic and fiscal sustainability. The recovery will likely remain weak, and the consolidated fiscal surplus is...