This 2012 Article IV Consultation highlights that economic growth in Luxembourg slowed in 2011 amid the euro area sovereign debt crisis. Reflecting sluggish external demand, economic activity is expected to further weaken, with growth projected to decline to ½ percent in 2012. Executive...

This paper presents a Joint Staff Advisory Note on Kenya’s Poverty Reduction Strategy Papers. Kenya is implementing the three-tiered East Africa Community (EAC) common external tariff and needs to develop a trade strategy, in agreement with other EAC members, that further lowers trade...

The Poverty Reduction Strategy Paper (PRSP) prepared by the Burkinabè government forms the principal benchmark for all development actors, and reaffirms the urgency of attacking poverty from a structural perspective. It is the primary tool for coordination of all interventions and of public aid...

This chapter reviews developments in GDP over the past several decades. The analysis shows that accumulation of labor and capital explains the bulk of overall output growth since 1990, with changes in total factor productivity playing only a minor role. Moreover, while increases in total factor...

This report describes the progress made in implementing the Poverty Reduction Strategy Paper (PRSP) for Sierra Leone from June 2005 to May 2006. The improvement in the external sector has for the most part reflected a strong improvement in export performance, particularly for diamonds. Efficient...

The growth rate of agriculture in Cameroon was estimated at 3.3 percent in 2006, compared with 2.7 percent in 2005. This is owing to increased activity in the food agriculture sector (4.3 percent) and in forestry and logging (4.0 percent). Livestock farming and fisheries, on the one hand, grew...

Estonia has succeeded in reducing its macroeconomic imbalances and vulnerabilities, but faces the challenge of preserving its hard-earned fiscal and financial stability and enhancing long-term growth prospects. In this regard, adopting a fully fledged medium-term fiscal framework can help assess...