India’s strong growth and macroeconomic stability is owed to its sound macroeconomic policies and past structural reforms. Swelling capital inflows have highlighted the key policy challenges: managing financial globalization and tackling the supply constraints to growth. Monetary...

This 2010 Article IV Consultation highlights that growth in Peru decelerated sharply in 2009, owing to the global financial crisis, but remained positive at about 1 percent for the year, despite a few months in negative territory. Thanks to the strong buffers built in recent years, Peru was able...

The Thai economy has demonstrated its strength in its rapid rebound from the global crisis. But the loss of its former dynamism has slowed trend growth and left it largely dependent on exports. Executive Directors encourage an infrastructure-led growth strategy to make a difference to...

This Selected Issues paper analyzes the underlying factors that explain the behavior of the Kiwi dollar. The findings suggest that the factors influencing the New Zealand dollar have been changing. The paper discusses that as New Zealand has become more integrated in global capital markets over...

This 2013 Article IV Consultation highlights that Peru’s economy continues to be a leader in high growth and low inflation in the region, which has been achieved through a prudent macroeconomic policy implementation, a far-reaching structural reform agenda and taking advantage of the...

This paper discusses key findings of the financial sector stability assessment for Romania. The assessment reveals that in recent years, Romania’s financial sector regulatory authorities have made significant progress in adopting international best practices, including through...

This 2008 Article IV Consultation discusses that Bulgaria has been hit by the global financial crisis, with clear signs that the country’s capital inflows-driven boom has come to an end and that the real economy is slowing down. Executive Directors have commended the Bulgarian authorities...

After the global financial crisis, economic growth of the Philippines has increased. However, renewed shocks to global growth and financial markets would affect Philippine exports and remittances. The Bangko Sentral ng Pilipinas (BSP) appropriately has started to unwind its liquidity support...

This 2008 Article IV Consultation highlights that spillovers from the global slowdown and lingering turbulence in international financial markets have been propagated to Singapore mostly through the trade channel. Inflation has risen significantly on the back of international and home-grown cost...

This 2009 Article IV Consultation highlights that following a prolonged expansion, reflecting sound macroeconomic policies and favorable terms of trade, global events have slowed Australia’s economic growth well below trend. The turmoil sparked by the collapse of Lehman Brothers in...