The German economy has made major strides, helped by wide-ranging reforms. Greater transparency and stronger incentives for prudent action will support crisis prevention and management. The immediate priorities are preserving the integrity of the financial system and maintaining economic...

Jamaica has performed well under the Stand-By Arrangement program. Executive Directors commended that overall macroeconomic performance under the program has been encouraging. Directors welcomed the program aimed at fiscal responsibility legislation and central treasury management, public debt...

The Slovak economy showed recovery from sharp recession. Executive Directors suggested that restoring fiscal sustainability and removing unemployment while maintaining external competitiveness within the monetary union should be given priority. The fiscal consolidation strategy could be...

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...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility for Albania. The outlook for 2007 is positive, with growth projected at 6 percent. These developments owe much to good macroeconomic policies. All quantitative program targets were met. The...

The 2007 Article IV Consultation reports on Ghana’s recent economic and policy development. Public Financial Management (PFM) has been strengthened through improvements in fiscal reporting and deployment of the new computerized payroll management system. Executive Directors commended the...

This 2006 Article IV Consultation highlights that Mongolia’s macroeconomic performance in 2005–06 has been robust, underpinned by a run-up on copper and gold prices, declining inflation, and budget and external current account surpluses. Real GDP growth in 2005–06 is...

This paper reports on Bangladesh’s Financial System Stability Assessment. Considerable progress has been made in strengthening the resilience of the country's financial sector. Total assets of the banking sector have increased twofold since 2003, and credit to the private sector has risen...