The macroeconomic stability of Sri Lanka is analyzed. Reflecting high domestic inflation relative to trading partners, the real effective exchange rate appreciated by 2 percent. Infrastructure development is a central element of the government’s medium-term development strategy. Further...

Sri Lanka’s 2005 Article IV Consultation reports that the fiscal deficit exceeded budget targets, and with a significant amount of government financing provided by the central bank, the growth in monetary aggregates increased, contributing to higher inflation. The near-term economic outlook is...

Since the last Article IV Consultation, the Sri Lankan economy has advanced on several fronts. However, the economic effects of the two-decade long civil conflict are yet to be overcome, and many challenges remain. Recently, heightened political uncertainty has constrained the government’s...

This 2008 Article IV Consultation highlights that problems in the housing and financial markets over the past year have combined to slow the United States’ economy substantially. As the residential investment downturn accelerated and national indices of housing prices started falling, mortgage...

This 2009 Article IV Consultation highlights that the U.S. economy has experienced the worst financial crisis since the Great Depression. In the second half of 2008, financial pressures intensified and came to a head with the failure of Lehman Brothers in September. Executive Directors have...

The U.S. economy is recovering from a financial crisis, but remains vulnerable to shocks. Executive Directors welcomed health care reform, fiscal stabilization, and the Financial Sector Assessment Program (FSAP) assessment, which acknowledged that the financial system has strengthened. Directors...

The U.S. economy continued to grow strongly over the year even in the face of a withdrawal of monetary stimulus and high oil prices. Executive Directors commended the Federal Reserve for its monetary tightening. They recognized that the financial sector has proven innovative and resilient. They...

This 2002 Article IV Consultation highlights that the United States economy slipped into recession in early 2001, as industrial production dropped sharply, investment and exports declined, and employment and weekly hours fell. The downturn was triggered in part by the collapse of the Information...

Sound monetary and fiscal policies have contributed to making the current U.S. economic expansion the longest on record. Executive Directors welcomed these developments, and congratulated the U.S. authorities on the adoption of the Gramm-Leach-Bliley Act, which represents a much needed overhaul...

This 2007 Article IV Consultation highlights that following an extended boom led by strong domestic demand, the slowdown in the United States has largely reflected a drag from residential investment as the housing market has weakened substantially. Unexpected weakness in business investment and...