This Joint Staff Advisory Note (JSAN) reviews the Kenya Vision 2030 (the Vision) First Medium-Term Plan (MTP) 2008–12 prepared by the government of Kenya. IMF staff finds that the objectives of the MTP are generally compelling and well considered on a sector-by-sector basis, but less so on a...

Drawing on recent examples of corruption in the Baltics and former Soviet Union, this pamphlet analyzes the links between governance and corruption, and emphasizes the high economic cost that corruption exacts. The pamphlet outlines how the IMF is working with the countries of the former Soviet...

This Selected Issues paper on Nigeria highlights challenges faced by the country in building on the achievements of 2004. The authorities will have to maintain macroeconomic stability while implementing ambitious structural reforms aimed at reducing the costs of doing business in Nigeria and...

This 2004 Article IV Consultation highlights that the macroeconomic performance of United Arab Emirates is estimated to have been strong in 2003, reflecting favorable developments in the oil market, higher oil production, and prices. Non Hydrocarbon real GDP growth is estimated to have remained...

The 2012 Article IV Consultation with Liberia discusses the economic developments and policies of the country. Liberia recorded strong macroeconomic performance under the three-year Extended Credit Facility (ECF) Arrangement, but poverty continued to be pervasive. The short- to medium-term...

This paper presents Guinea’s 2011 Article IV Consultation and requests for a three-year arrangement under the Extended Credit Facility. The macroeconomic improvement in 2011 has been mainly owed to sharp fiscal adjustment. The deficit on the budget’s basic balance has been reduced...

The First Review Under the Standby Credit Facility (SCF) discusses Solomon Islands’ satisfactory performance under the SCF-supported program, approved in December 2011. The current arrangement is intended to be precautionary and, given the current level of reserves, the authorities do not...

Social and political stability has improved in Congo, but the security situation is fragile. Executive Directors welcomed the Staff-Monitored Program (SMP), which was designed to safeguard fiscal and external stability. They stressed the need for stabilizing the economy and pursuing structural...

This Selected Issues paper presents an external stability assessment on Niger. Niger’s current account balance deteriorated in 2013, mostly on account of higher food and capital goods imports. The deficit is expected to widen further in 2014–15, mainly driven by large investment in...

Economic activity was buoyant in Niger thanks to a new oil project, contributing to a strengthened external account and a rebound in agricultural production. Economic developments, however, remained vulnerable to climatic shocks and the fragile security situation in the region. Fiscal...