KEY ISSUES Context. Growth remains strong driven by robust exports, tourism, and construction, despite the recent floods and some slowdown during the 2013 national election. The outlook is favorable with renewed reform momentum after the elections but slow growth in Europe, the U.S. tapering,...

KEY ISSUES Economic context. Growth was strong in 2012, and the economy is overheating from expansionary macroeconomic policies. The current account deficit has deteriorated significantly, a product of a currency appreciation in real effective terms, a growing fiscal deficit, and strong domestic...

KEY ISSUES Context: Growth in recent decades has been sluggish owing to persistent political turmoil, external shocks, and slow progress on structural reforms. Unemployment at nearly 9 percent continues to be stubbornly high, with youth and underemployment at significantly higher rates. The...