Mobilizing more revenue is a priority for sub-Saharan African (SSA) countries. Countries have to finance their development agendas, and weak revenue mobilization is the root cause of fiscal imbalances in several countries. This paper reviews the experience of low-income SSA countries in...

This 2005 Article IV Consultation highlights that the economy of the Democratic Republic of Timor-Leste remains fragile. Cumulative growth over the last three years was near zero—mainly reflecting the drawdown in the presence of international agencies. Unemployment is high, 40 percent of...

This paper reviews the IMF’s discussions with Eastern Caribbean Currency Union’s (ECCU) regional institutions. Discussions focused on the outlook for 2003 and the policy responses needed to arrest the fiscal deterioration and to achieve consolidation over the medium term. Although...

This Netherlands’s 2005 Article IV Consultation reports that raising participation and productivity are important for boosting the economy potential and reducing pressures on the public finances in the face of population aging. The authorities have implemented or are in the process of...

This 2005 Article IV Consultation highlights that economic activity in the Eastern Caribbean Currency Union (ECCU) has accelerated since mid-2003 owing to an acceleration of activity in the tourism and construction sectors. Inflation has been stable and monetary aggregates have been expanding...

This report evaluates the Observance of Standards and Codes on Fiscal Transparency for the Republic of Equatorial Guinea. Equatorial Guinea needs to improve transparency in many of the important elements of the Code of Good Practices on Fiscal Transparency, but a basis is being established to...

This Poverty Reduction Strategy Paper for Nicaragua reports that the most pressing demand for the majority of Nicaraguans is employment generation and economic growth. The National Development Plan (NDP) gives priority to actions that improve the investment climate and promote productive...

The staff report for the 2005 Article IV Consultation for Cape Verde focuses on economic developments and fiscal policy. The fiscal deficit was lower than expected, and reserve accumulation exceeded the programmed level. Cape Verde appears well positioned to attract increasing external support,...

This paper discusses Cape Verde’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Economic performance in 2003 was better than programmed in many respects: real GDP growth was higher,...

This 2002 Article IV Consultation highlights that after growing by an average 3 percent a year in 1998–99, output for St. Lucia stagnated in 2000, and fell by an estimated 5¼ percent in 2001. This reflected a severe drought in 2001, as well as lower tourism activity owing to the global...