This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 4½ percent while consumer prices declined. The favorable developments in the oil market contributed to...

This 2008 Article IV Consultation highlights that Malta has experienced a three-year-long expansion reflecting strong foreign direct investment, export diversification, and value-added upgrading. Financial soundness indicators held up in 2007 despite unfavorable international developments. The...

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 paper analyzes the 2005 Article IV Consultation and First Review Under the Staff-Monitored Program (SMP) for the Union of the Comoros. Economic growth remained lackluster in 2004 owing to a depressed world demand for vanilla and crop, and cattle diseases. Government revenue stagnated, while...

The discussions focused on reviewing the reforms that were implemented since the last consultation, policies for the remainder of the year as well as the parameters of the 2004 program, and the medium-term outlook. Executive Directors encouraged the exchange and monetary systems, but additional...

This 2004 Article IV Consultation states that the strength of the Tunisian economy continued in 2003, and the short-term outlook is favorable. Favorable agricultural production and robust nonenergy exports contributed to high growth and a narrowing of the external current account deficit in...

Anglophone African countries have been implementing reform and modernization initiatives in their Customs administrations. This paper outlines the progression of key reform and modernization initiatives in these countries since the early 1990s, and assesses the gap between these reforms and...

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...