The macroeconomic performance for Lao People’s Democratic Republic is encouraging, but underlying fragilities remain. Progress needs to be made on structural reforms. On the fiscal side, the immediate challenge is to avoid an unsustainable expansion of spending. The medium-term priority is to...

The 2006 Article IV Consultation on the Republic of Tajikistan explains political and economic developments. Although Tajikistan’s external debt profile has improved significantly, total public and publicly guaranteed debt is projected to increase significantly, mainly because of large...

This paper discusses Mali’s 2005 Article IV Consultation and Second and Third Reviews Under the Poverty Reduction and Growth Facility (PRGF). The PRGF-supported program is broadly on track. Performance on quantitative aspects remains strong. Although the record on the structural program has...

This paper focuses on Senegal’s Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Program implementation in 2005 was uneven. Most performance criteria (PCs) for the third and fourth...

Economic performance in 2002 was generally favorable with good policy implementation, but considerable risks remain. Structural reforms have fallen behind program expectations, but the delays are being addressed. The discussions highlighted the need for prudent policies and strengthening of...

Lesotho has made progress toward macroeconomic stability. After recent economic development, diamond production, garment industry, and good performance in the agriculture and service sectors were recovered. The fiscal position and public debt sustainability indicators have improved. Achievement...

This paper discusses Serbia and Montenegro’s Sixth Review Under the Extended Arrangement, Financing Assurances Review, Request for Waivers of Nonobservance of Performance Criteria, and Proposed Post-Program Monitoring. Program implementation since the fifth review has been mixed, delaying the...

This 2006 Article IV Consultation highlights that Senegal has experienced strong growth, price stability, and a declining debt stock owing to substantial debt relief, but macroeconomic performance weakened in 2006. Following robust performance in 2003–05, economic growth is estimated to have...

Bosnia and Herzegovina has enjoyed rapid growth and price stability in recent years, but stronger policy ownership, improved policy coordination, and meaningful progress in structural reform are needed to provide the basis for sustained, private sector-led growth. Ensuring the sustainability of...