EXECUTIVE SUMMARY Economic activity continued to grow at a brisk pace in 2013. Growth projections have been revised slightly downwards to 6.8 percent in 2013 and 2014, based on lower gold and cotton prices that are leading to somewhat lower output, and the impact of the high base of agricultural...

EXECUTIVE SUMMARY Background. The political transition is moving forward again following another period of political upheaval and security tensions. However, the protracted political crisis of the past few months has taken a toll on the economy, resulting in a weaker economic recovery than...

KEY ISSUES Context and outlook. Mozambique’s macroeconomic outlook remains favorable and the PSI-supported program is broadly on track. All assessment criteria were met and most indicative targets, but there was some slippage on structural reforms. Economic growth is robust and inflation...

KEY ISSUES Context. Economic growth and macroeconomic stability improved in 2013. A robust rise in tourism earnings supported growth, as well as a reduction in the current account deficit as a share of GDP. The exchange rate has strengthened slightly, at the same time as the central bank...

Context: Mali is emerging from the worst security and political crisis in its recent history. Progress in political normalization to date has been encouraging: a successful presidential election, formation of the new government and the legislative elections have demonstrated Mali’s commitment...

EXECUTIVE SUMMARY Extended Arrangement under the Extended Fund Facility (EFF): A 36 month, SDR 4,393 million (425 percent of quota) Extended Arrangement under the Extended Fund Facility was approved by the Executive Board on September 4, 2013 (Country Report No. 13/287). The second tranche of...

EXECUTIVE SUMMARY Context. The coalition government that came into office on December 12, 2012, remains fully committed to the pursuit of sound policies that are helping to consolidate macroeconomic stability, despite a challenging external environment and more uncertain oil prospects. Program...

EXECUTIVE SUMMARY Regional instability continues to affect Jordan. The conflict in Syria and shortfalls in gas flows from Egypt are putting pressure on the fiscal and external accounts. The large inflow of refugees from Syria is also straining labor and housing markets as well as the provision...

EXECUTIVE SUMMARY Comoros is in the last year of a multi-year economic and structural adjustment program and has made significant progress in stabilizing the economy. Further progress has also been made on the structural front. The program has and continues to receive the support of a broad...

EXECUTIVE SUMMARY Background: Kenya’s recent reforms have introduced a more comprehensive system of checks and balances, including accountability and transparency in expenditure control and management. In this context, the new government has taken decisive steps towards devolution supported by...