The empirical study shows that the equilibrium real exchange rate in Mauritius has been affected by the terms of trade, as well as by other fundamental determinants. It assesses the challenges posed to Mauritius’s trade performance by the expiration of the preferential trade arrangements....

This Selected Issues paper provides a preliminary view on Afghanistan’s external competitiveness through a review of some macroeconomic, microeconomic, and institutional indicators. It discusses the rebuilding of domestic revenue, and analyzes the macroeconomic impact of the drug economy...

This paper reports on progress made on Nicaragua’s National Human Development Plan as of 2010. The operational goal for Nicaragua’s National Human Development Plan is economic growth with increased employment and reduced inequality and poverty. The results for 2007–10...

This Selected Issues paper for Algeria analyzes the potential economic impact of Algeria’s Association Agreement with the European Union (AAEU). The paper lays out the major elements of Algeria’s AAEU and makes a comparison with other AAEUs. It discusses the potential economic...

The macroeconomic environment is sound, with low inflation and a comfortable external position, although the fiscal position remains a concern for the medium term. The authorities have successfully privatized and liberalized the telecommunications, energy, and transportation sectors. Moreover,...

The creation, in 1994, of the Central African Economic and Monetary Community (CEMAC) customs union was a major step in the regional integration process in central Africa. The implementation of the agreed regime by the member countries, however, has remained unsatisfactory. A 2002–03...

The pace of trade reforms waned from the mid-2000s as protectionist sentiment began to increase. With the onset of the global financial crisis, reform progress not only halted but began to reverse. As we show in this note, new trade restrictions have had—in the limited products they...

The actions proposed here focus on trade integration, substantially increasing exports of the poorest countries and helping them to meet the Millennium Development Goals. As the foundation for these ambitions, we emphasize the role of a secure, open global trading environment—strengthened...

Limited diversification is an underlying characteristic of many low-income countries (LICs). Concentration in sectors with limited scope for increases in productivity and quality may result in less broad-based and sustainable growth. Moreover, lack of diversification may increase exposure to...

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...