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...

Context: Ethiopia’s public sector-led development strategy has contributed to considerable poverty reduction and progress toward achieving the Millennium Development Goals (MDGs) as envisaged under the authorities’ Growth and Transformation Plan (GTP). Economic growth has been robust, and...

1. In recent years, Ethiopia has sustained high growth spurred by bold national plans. During 2005/06–2009/10, the Ethiopian government implemented the Plan for Accelerated and Sustained Development to End Poverty (PASDEP). In this period, the country achieved high economic growth with...

This paper analyzes Burundi's Third Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Policy discussions in the program focus on measures to strengthen fiscal performance, which have been reflected in a revised 2013 budget, bolstering...

Rwanda has responded to lower aid by tightening policies and drawing on its foreign reserves to cushion the impact on the economy. Economic activity has been resilient despite lower aid inflows. The agreed framework for the FY2013/14 budget is in line with Policy Support Instrument (PSI)...

The Burundian economy faced several adverse shocks. The government responded by allowing greater exchange rate flexibility and by tightening its monetary policy. The fiscal stance was in line with the program, and program implementation has been broadly satisfactory despite difficult...

The Comorian authorities have made steady progress in fiscal consolidation, reinvigorated their structural reform agenda, and gathered strong public support for sound macroeconomic policies. Macroeconomic developments have been largely positive, mostly thanks to improved policies. External...

Comoros remains in debt distress, pending the achievement of the completion point under the Highly Indebted Poor Country (HIPC) Initiative. The outlook for 2012 is broadly consistent with expectations under the Extended Credit Facility (ECF) arrangement. The IMF Executive Board has approved a...

Ethiopia pursues a public sector-led growth strategy that focuses on promoting growth through high public investment supported partly by low nominal interest rates. While the strategy has contributed to robust economic growth in the past, recent developments indicate a buildup of vulnerabilities...

This Selected Issues paper reviews the evolution of inequality in Ethiopia and discusses the role of various macroeconomic policies as well as structural factors. With a Gini coefficient of 30, Ethiopia remains among the most egalitarian countries in the world. The most vulnerable households...