The empirical study shows that the equilibrium real exchange rate in Mauritius has been affected by the terms of trade, as well as by other fundamental determinants. It assesses the challenges posed to Mauritius’s trade performance by the expiration of the preferential trade arrangements....

This 2007 Article IV Consultation highlights that the lengthy expansion brought the Australian economy to a position of near full employment. Inflation had eased in late 2006 and early 2007, but accelerated in the second quarter. The current account deficit was 5½ percent of GDP in 2006. The...

Subsidy reform has been a key component of the pre-accession reform agenda of the 10 new member states that joined the EU in 2004 (EU-10). During the pre-accession period, these countries had to undertake a number of important structural reforms in their economies. One of the most critical...

Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymakers inevitably face the choice of privatizing some sectors before others. This paper analyzes the allocative efficiency implications of alternate...

This paper explores from a regional perspective the distorted nature of trade in energy products within the CIS countries. The persistence of pricing distortions, barter arrangements, and discriminatory access to pipelines, as well as failure to honor contracts, has disrupted and distorted...

This 2003 Article IV Consultation highlights that despite significant slowdowns in activity in some major overseas markets, New Zealand has maintained a strong pace of economic growth over the past three years. The economy’s performance reflected its enhanced flexibility, stemming from...

The government of Rwanda has recognized that economic development in most areas would have to be the responsibility of the private sector (particularly since military and civil service employment would be reduced), but that the public sector could still have a role in promoting economic equality...

This paper reviews economic developments in the Republic of Mozambique during 1990–96. Under the Economic and Social Rehabilitation Program (ESRP), the economy has made impressive economic gains. Real GDP growth averaged 6.7 percent in 1987–95, despite the civil war, a decline in...

This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital...