The staff report for El Salvador’s request for a Stand-By Arrangement is examined. Fiscal consolidation led to a reduction in the public debt-to-GDP ratio, and the country has experienced the highest growth rates in a decade. Real GDP growth is projected to slow to 3.2 percent in 2008,...

After being hit by a severe recession in 2008–09, the Belgian economy is gradually recovering. When core inflation remained subdued in 2010, headline inflation jumped up due to the energy price hike. The growth of potential output is expected to revert to its declining trend over the...

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...

Domestic and external factors combined to bring about the loss of confidence in Argentina that triggered the debt default and the crisis. Restoring confidence in legal certainty has been a major challenge for Argentina. The fiscal program is centered on maintaining tight control over primary...

This detailed assessment of the observance of standards and codes in the financial sector of the Kingdom of the Netherlands—Netherlands Antilles reviews implementation of the Basel Core Principles for effective banking. Legal provisions are in place entrusting the Bank of the Netherlands...

This Selected Issues paper examines prospects for increasing growth and reducing poverty in the Solomon Islands. The paper highlights that agriculture constitutes the largest sector of the Solomon Islands economy, averaging about 20 percent of GDP throughout the 1990s. The Solomon Islands also...

This report on the offshore financial center program contains technical advice and recommendations given by the staff team of the International Monetary Fund in response to Liechtenstein’s request for technical assistance. It provides detailed assessment of observance of the Basel Core...

The report provides the details of the Malta Financial Stability Assessment (MFSA). It defines its roles, responsibilities, and objectives for financial policies. It reviews the reports on the observance of standards and codes on monetary and financial policy transparency, banking supervision,...

This paper presents key findings of the Detailed Assessment of the Observance of Standards and Codes in the Financial Sector of Bermuda. The small number of licensed deposit-taking institutions in Bermuda are part of the broader financial intermediation sector. Typically, some 50 percent to 60...

This paper reviews of Sector Regulation and Supervision for Seychelles. Regulation and supervision of the banking sector and foreign exchange bureaus in Seychelles is carried out by the Bank Supervision Division of the Central Bank. Supervision of the credit union and the insurance companies is...