This paper presents an overview of the economy of Hungary. The paper highlights that during the Fifth Five-Year Plan (1976–80), actual growth rates for almost all major plan aggregates remained below the targets. The lower targets set for the increase in both consumption and investment in...

The staff report for the Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility highlights economic developments and fiscal policy. The political transition process has advanced significantly in 2005, and further progress has been made in securing peace....

Until recently, Croatia's economic performance was the envy of many countries in transition: a successful stabilization effort in late 1993 was followed by virtual price stability and real GDP growth of 6 percent a year during 1994–97. Monetary tightening, the weak economy, and a...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper reviews Moldova’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, and Banking Supervision. Compliance with the Basel Core Principles and the IMF Code of Good Practices on...

The most important challenge faced by the Djibouti authorities is to achieve high rates of economic growth in order to create employment opportunities for a rapidly increasing labor force and to alleviate rising poverty. In this paper, developments and the role of the financial system during the...

This Financial System Stability Assessment Update on Senegal reports that the banking sector remains the cornerstone of the financial sector, and risk concentration remains the main source of vulnerability. The largest microfinance institutions (MFI) are sound, but smaller ones are weaker and...

This Financial System Stability Assessment on the Eastern Caribbean Currency Union (ECCU) reviews overall stability assessment. The fiscal position of the governments in the region has deteriorated sharply in recent years. A source of strength of the ECCU has been the large historical presence...

Croatia achieved progress in restoring control over the public finances. Executive Directors welcomed the comprehensive economic program, with its focus on the fiscal deficit and tax reductions, wage discipline, and structural reforms in the context of a stable exchange rate. They stressed the...

Burundi’s First Review Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria are discussed. Fiscal slippages emerged following the surge in petroleum prices and higher spending needs associated with the peace process and the domestically financed...