The creation, in 1994, of the Central African Economic and Monetary Community (CEMAC) customs union was a major step in the regional integration process in central Africa. The implementation of the agreed regime by the member countries, however, has remained unsatisfactory. A 2002–03...

This paper reports on progress made on Nicaragua’s National Human Development Plan as of 2010. The operational goal for Nicaragua’s National Human Development Plan is economic growth with increased employment and reduced inequality and poverty. The results for 2007–10...

The Selected Issues paper provides an overview of trends, performance export growth, value added, and employment, account of the structure and evolution of Lesotho's textiles during the decade through 2002, and discusses future prospects and key issues. It analyzes the implications of the...

The Mauritian economy showed strong performance owing to its sound macroeconomic policies. Executive Directors emphasized the need to remain competitive and address the growing unemployment problem. They commended the efforts to support the developments in financial services, free port...

The erosion of EU trade preferences for bananas and sugar will have immediate negative implications for Belize’s economy. This paper suggests ways to enhance public debt management in Belize. The vulnerability of the banking sector appears relatively modest. However, the current level of...

This Selected Issues paper on Bangladesh underlies the export performance of readymade garment industry and inflation dynamics. Bangladesh has demonstrated that it is highly competitive in the world’s major garment markets. Inflation inertia, monetary factors, and exchange rate...

This Reference Note introduces guidance on preferential trade agreements (PTAs). In so doing, it responds to the request by the Executive Board in the context of the Independent Evaluation Office (IEO) Evaluation of IMF Involvement in Trade Policy Issues. Section II provides context for the...

The macroeconomic environment is sound, with low inflation and a comfortable external position, although the fiscal position remains a concern for the medium term. The authorities have successfully privatized and liberalized the telecommunications, energy, and transportation sectors. Moreover,...

Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the...