This paper reviews the Staff-Monitored Program (SMP) for the Union of the Comoros. The authorities’ program for 2005 is focused on macroeconomic stabilization. This is predicated on a consolidated budget entailing a domestic fiscal adjustment slightly above 3 percent of GDP. Monetary policy...

The United Kingdom’s 2005 Article IV Consultation reports that macroeconomic performance has been strong and steady, owing in part to confidence-enhancing policy frameworks and generally sound implementation. The financial system is generally healthy, although a substantial increase in the...

This 2004 Article IV Consultation highlights that United Kingdom’s real GDP growth is estimated at about 3 percent in 2004 and is expected to stay stable at about 21⁄2 percent in 2005–06, in line with potential growth. Domestic demand remains the key driver of growth, underpinned by...

This Selected Issues paper analyzes the impact of globalization on United Kingdom’s inflation and relative prices over the last decade. The IMF’s Global Economy Model (GEM) is used to estimate the relative importance of the various factors argued to have influenced the evolution of inflation...