This 2008 Article IV Consultation highlights that Mauritania’s macroeconomic performance over recent years was satisfactory, despite a steeper-than-expected decline in oil production reflecting persistent technical problems a and difficult external environment. The real non-oil GDP growth is...

The authorities reiterated their firm commitment to the policies and objectives outlined in the May 17, 2010 Memorandum of Economic and Financial Policies. They are committed to a reduction in other primary spending by 2 percentage points of GDP. With the medium-term outlook broadly unchanged,...

Generally, macroeconomic performance has been as envisaged at the time of the program request. The near-term outlook has improved, despite uncertain global conditions. The new government of Solomon Islands remains committed to program targets and objectives agreed. The government’s efforts in...

Economic recovery has gained momentum, and short-term prospects have improved. Program implementation is good. Fiscal consolidation is essential for Burkina Faso’s macroeconomic stability and debt sustainability. Structural reforms remain focused on a few priority areas supporting growth and...

In this study, economic performance remained robust throughout the global downturn, and shows signs of further strengthening. In 2010, the external position improved significantly, as fiscal surpluses raised official foreign assets, and the Highly Indebted Poor Countries (HIPC) debt relief...

The Moldovan economy is recovering steadily following the recession triggered by the global crisis. The key challenge is to ensure fiscal, financial, and external sustainability while igniting new engines of growth. Monetary policy strikes the right balance between keeping inflation low and...

This Article IV Consultation reports that the economic growth of Mauritania is robust, which reflected prudent economic management, sustained donor support, and the beginning of oil production. Executive Directors observed that the return of constitutional order to Mauritania has established a...

The goal of the last ECF arrangement (2005–09) was to support Benin’s strategy to achieve higher sustainable growth and reduce poverty while preserving macroeconomic stability and reducing vulnerabilities to external shocks. The program achieved most of its objectives. The main macroeconomic...

This paper examines Croatia’s 2004 Article IV Consultation and Request for Stand-By Arrangement (SBA). Croatia has established a record of solid growth and low inflation since the mid-1990s. Real GDP growth has averaged about 4.5 percent, with inflation in the low single digits. This...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Mali. Implementation of the ECF-supported program has been challenged by the global financial crisis and the ensuing global slowdown. The new program aims to continue prudent fiscal policies and...