This report reviews the Observance of Standards and Codes on Fiscal Transparency for Belarus. Belarus meets the requirements of the fiscal transparency code in some important areas. There is a comprehensive legal and administrative framework for management of budget resources. The Budget systems...

In Kenya, the general government is not defined consistently with government finance statistics (GFS) principles. Relationships between the central government and public nonfinancial and financial corporations are generally clearly defined. Government holdings of fully owned corporations and...

This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality...

The Kyrgyz Republic has stabilized with the formation of a new coalition, but political uncertainty remains. Despite a slump in gold production and delays in donor financing, monetary and fiscal policies remained prudent. Improving the business climate, good governance, and strong institutions...

This paper describes Kenya’s third review under the three-year arrangement under the Extended Credit Facility (ECF) and request for modification of performance criteria. The Executive Board approved a three-year ECF arrangement for Kenya on January 31, 2011, which has been augmented on...

This paper discusses key findings of the Sixth Review for Uganda Under the Policy Support Instrument. Structural rigidities continue to pose challenges to macroeconomic management in Uganda. Persistent weaknesses in project implementation coupled with rigidities in domestic financial markets...

Trinidad and Tobago showed strong economic performance led by the buoyant energy sector. Executive Directors welcomed the robust economic activity, and the decline in public debt and external reserves. Directors stressed the need for strong macroeconomic and structural policies to enable the...

Indonesia’s growth in 2009 was four and a half percent, the third highest in the G-20 group of countries; and the pace is accelerating in 2010. Both push and pull factors have attracted large portfolio inflows, particularly into government bonds and Short-term Bank Indonesia certificates...

This paper presents key findings of the Third Review for Uganda under the policy support instrument. Monetary policy has been tightened significantly to reduce core inflation, supported by a contractionary fiscal stance. All but one of the seven quantitative assessment criteria were met at...

This paper discusses key findings of the Financial Sector Assessment Program (FSAP) covering the transparency of monetary policy in the Republic of Indonesia. There is a reasonably high degree of transparency in Indonesia’s monetary policy, with much progress having been made over the...