This Selected Issues paper for the Democratic Republic of São Tomé and Príncipe (STP) underlies the recent upward trend in inflation that was heavily influenced by external factors. The policy mix to achieve price stability requires effective control of money supply and fiscal restraint. As...

Fiscal policy in Haiti should be oriented toward more developmental objectives. Steps have been taken in sustaining inclusiveness; however, the current taxation and expenditure frameworks do not completely fulfill the necessary requirements for these objectives. Inefficient public investment and...

The Islamic Republic of Iran’s 2009 Article IV Consultation highlights that real GDP growth has slowed following the decline in oil prices, the non-oil fiscal position has become tighter, and banks’ financial situation has weakened. The recent approval of an ambitious energy price...

This 2006 Article IV Consultation highlights that Hong Kong Special Administrative Region has recovered strongly from a series of shocks in recent years and, as expected, the pace of growth is now moderating. Growth was 6.8 percent (year over year) in the first three quarters of 2006, somewhat...

This Selected Issues paper for Kenya, Uganda, and United Republic of Tanzania highlights their private sector credit markets, identifies their main obstacles in promoting credit to the private sector, and suggests a reform strategy. If the East African Community (EAC) countries decide to pursue...

This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU). Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union,...

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.

Executive Directors commended Sudan's efforts to bring economic policies back on track and welcomed the establishment of a mechanism to save oil export receipts arising from higher-than-programmed oil prices, but underscored the need to strengthen budget control and monitoring systems. The audit...

This Selected Issues paper examines the main factors explaining Ukraine’s growth performance so far, assesses whether the recent recovery is sustainable, and provides a quantitative analysis of long-term growth prospects. It finds that the recent recovery is not yet self-sustaining and...

This 2004 Article IV Consultation highlights that following a rather tepid recovery, the United States economy gathered strength in 2003. Supported by continued robust productivity growth, real GDP growth began to exceed the growth rate of potential output around midyear. The recovery broadened...