Despite the difficult global environment, economic growth in Mozambique has remained buoyant. Inflation has come down more rapidly than anticipated. Foreign direct investment in the natural resource sector has resulted in rapid import growth. The contribution of coal production and exports and...

The paper focuses on the workings of the Medium-Term Development Program (MTDP) of the Kyrgyz Republic. Raising living standards as well as taking measures for reducing poverty have been cited as the main priority areas of the strategy, and the measures to be undertaken to bring about...

This paper discusses a request from Congo for the Rapid-Access Component of the Exogenous Shocks Facility. Performance on the 2008 staff-monitored program was mixed, complicated by the effects of the exogenous shock. Although weaknesses remain, the authorities strengthened public financial...

This 2013 Article IV Consultation highlights that Sudan’s economic performance in 2012 was unfavorable despite the introduction in June 2012 of a package of reforms. Non-oil real GDP growth slowed to 4.6 percent, inflation rose to 44.4 percent by the end of the year, and the gap between...

This staff report on Iraq’s 2013 Article IV Consultation highlights economic policies and development. Risks to the macroeconomic outlook remain high. The risks can translate into lower oil revenues, deterioration in the fiscal position, pressures to use Central Bank of Iraq reserves for...

Significant progress has been made in Haiti to safeguard macroeconomic stability after the January 2010 earthquake. However, the pace of the reconstruction has been slow and the business environment remains unattractive. Further development and strengthening social safety nets are essential. The...

The Kyrgyz Republic has stabilized with the formation of a new coalition, but political uncertainty remains. Despite a slump in gold production and delays in donor financing, monetary and fiscal policies remained prudent. Improving the business climate, good governance, and strong institutions...

This paper assesses the First Review Under the Staff-Monitored Program (SMP) for Afghanistan. The authorities have met all of the indicative quantitative targets set out under the SMP and all the structural benchmarks, except the benchmark on licensing of commercial banks, which was only partly...

Resilient growth is observed in 2012 in Seychelles. Weakness in tourism has been offset by increases from less-traditional markets. The current account and adjustments has administered prices in the second half of 2011, and a cycle of depreciation and inflation ensued. The fiscal accounts...

This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...