Mexico’s policy stance has focused on balancing domestic and external conditions, supporting the recovery while rebuilding policy buffers through fiscal consolidation and reserve buildup. Growth has remained resilient during the first half of 2011 and is expected to continue into 2012,...

The study shows that the global financial crisis has adversely affected Kuwait’s financial system, especially in the Investment Company (IC) sector. Stress tests indicate that, in contrast to the ICs, the banking system could broadly withstand significant shocks. The Central Bank of...

This 2012 Article IV Consultation discusses that the economy of Poland fared well throughout the crisis. The growth was robust and well balanced in 2011. The banking sector remained profitable and well capitalized. Declining provisioning boosted profitability and the average capital adequacy...

This 2013 Article IV Consultation highlights that over the past year, Mexico has maintained macroeconomic policy continuity, while pursuing an ambitious agenda of growth-enhancing reforms. Reforms have already been approved to upgrade education, make labor markets more flexible, and foster...

Uruguay’s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...

Strong economic fundamentals, robust policy framework, and a sustained track record of excellent policy implementation have facilitated the maintenance of orderly economic conditions in Mexico even amidst the substantial external volatility during the global crisis. Executive Directors welcomed...

South Africa has made substantial progress in addressing the recommendations of the Financial Sector Assessment Program and is continuing to build upon these accomplishments. The Financial Services Board and Department of Trade and Industry both are organizations with the legal authority to...

This 2006 Article IV Consultation highlights that India’s economy has continued to grow above trend, with an average growth of 8 percent in the last three years. Growth is broad based, with robust consumption, investment, and exports. With manufacturing expanding at more than 10 percent...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This 2009 Article IV Consultation highlights that Singapore has been severely affected by the global downturn. The collapse in external demand has led to a sharp contraction in GDP, which fell by almost 13 percent in the first quarter of 2009. Executive Directors have observed that the floating...