Corporate priorities, government policies, and public demand are driving companies across the world to improve their environmental and social footprint. In South Africa, the Petco Producer Responsibility Organisation NPC is scaling up the recycling of plastics, while improving livelihoods for...

The aim of this paper is to address the implications of Global Value Chains (GVCs) for the Fund's surveillance work. The paper first draws on the World Input-Output Database (WIOD) to document the dynamics of trade linkages between countries and regions through GVCs and its impact on the real...

This paper reviews the Central African Republic’s three-year arrangement under the poverty reduction and growth facility. Concerns about the social impact of higher fuel prices have delayed implementation of an automatic pricing formula and caused serious fiscal losses. The new financing...

This 2006 Article IV Consultation highlights that Georgia’s economy has performed well over the last two years, and the fiscal turnaround has been impressive. Since the change in government in late 2003, Georgia has demonstrated strong fiscal performance and a renewed commitment to press...

This paper discusses the Former Yugoslav Republic of Macedonia’s Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program. The 2007 fiscal deficit target increased modestly to 1 percent of GDP. Taxes were cut and budget...

This papers discusses Benin’s third review under the Extended Credit Facility Arrangement. The re-election of the President and the regained majority in Parliament have provided a window of opportunity for reforms. All performance criteria and most quantitative targets have been met, but...

Ireland’s strong policy implementation and market conditions have improved macroeconomic indicators to show positive signs. However, an uncertain medium-term outlook could hamper the prospects. Bank supported recovery through timely action on lingering financial sector issues has been...

This Article 2008 IV Consultation highlights that Bosnia and Herzegovina’s economy has been exhibiting robust growth, but imbalances have emerged. The current account deficit has widened and underlying inflation has picked up. Procyclical fiscal policy has added to these imbalances....

Data dissemination practices in Bosnia and Herzegovina meet many of the General Data Dissemination System recommendations for dissemination of macroeconomic statistics in terms of coverage, periodicity, and timeliness. Executive Directors suggest strengthening the mandate of the Bosnia and...

This 2005 Article IV Consultation highlights that the economic activity in Jamaica has been adversely affected by shocks. Real GDP contracted sharply in late 2004 following the devastating effects of Hurricane Ivan. Thereafter, while output recovered, it was dampened by the poor performance of...