Economic activity in the Czech Republic is expected to remain flat in 2012 and gradually gain momentum as external conditions improve. The 2012 Article IV Consultation discusses that monetary conditions have been appropriately supportive of economic activity. The Czech financial system has...

I study whether firms' reliance on intangible assets is an important determinant of financing constraints. I construct new measures of firm-level physical and intangible assets using accounting information on U.S. public firms. I find that firms with a higher share of intangible assets in total...

Lao People's Democratic Republic (Lao PDR) showed commendable growth owing to its strong macroeconomic performance and structural reforms under the economic program. Executive Directors commended the fiscal performance, bank restructuring, and the private sector developments, and stressed the...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by...

This 2009 Article IV Consultation highlights that Côte d’Ivoire has embarked on comprehensive reform policies to address the challenges of enhancing growth and reducing poverty. It adopted a Poverty Reduction Strategy Paper in February 2009, which covers the seven-year period 2009–15, and...

This assessment finds that Argentina has made significant progress to improve its securities regulatory system within the existing legal framework. This assessment finds areas that need to be improved. The reinforcement of supervision powers in accordance to international standards represents an...

This paper on Cameroon’s Enhanced Heavily Indebted Poor Countries (HIPC) Initiative explains implementation of the poverty reduction strategy and macroeconomic performance. Executive Directors agreed that Cameroon’s external public debt was above the HIPC Initiative sustainability...

According to IMF and IDA authorities, Guinea-Bissau had met the requirements for reaching the decision point under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The authorities appreciated the country’s tremendous efforts to reestablish economic, social, and...

This paper discusses Togo’s progress under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In November 2008, the Boards of Executive Directors of the IDA and the IMF agreed that Togo had met the requirements for reaching the decision point under the Enhanced HIPC...

This study is carried out against a backdrop of deep divisions in Greece and in Europe over how to handle the challenges now confronting Greece. Greece’s deeper medium-term policy needs and identifying ways to replace the expected market financing are discussed. Structural reforms tackled...