This technical note examines the macroprudential policy framework in the Czech Republic. The Czech National Bank (CNB) has been actively developing its macroprudential policy framework for some time, including most recently the establishment of a separate Financial Stability Department. The...

The Slovak Republic’s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...

Despite the negative impact of the severe winter on agriculture, other indicators are pointing to a strong recovery. Exports are growing rapidly, fueled by the rebound in copper prices and a rapid growth in coal exports. Rephasing of purchases by combining the fifth and sixth reviews is...

This 2007 Article IV Consultation highlights that boom in private consumption in Iceland was facilitated by easing household credit conditions, tax cuts, rapidly rising housing and equity wealth, and an appreciating real exchange rate. As a result, the output gap peaked at over 5 percent in...

The swift and decisive policy response of Korea has contributed to an impressive economic recovery from the financial turmoil. Executive Directors welcomed the well-calibrated and gradual exit strategy while aiming to achieve strong and sustainable long-term economic growth. Directors welcomed...

Uruguay has consolidated economic gains, supported by strong macroeconomic policies and a broadly favorable external environment. Growth has exceeded expectations, unemployment has reached record lows, and poverty has continued to fall, while economic vulnerabilities have been significantly...

A strong policy framework and improved income distribution and social outcomes have been important accomplishments in Brazil. The 2012 Article IV Consultation highlights that financial stability in Brazil has been underpinned by a strong banking system and framework for regulation and...

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.