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...

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 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...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Tunisia’s macroeconomic situation has recovered from the post-revolution trough, but fiscal and external buffers have been eroded. Prudent management of monetary policy is crucial for short-term macroeconomic stabilization goals and to build external buffers. The challenges arise from social...

The shift to a parliamentary democracy in 2010 provided an impetus for the Kyrgyz Republic to reform the economy. Despite the recent progress, the Kyrgyz Republic faces significant economic challenges, which will require actions on many fronts. Improving the business climate, governance, and...

Fiscal consolidation, additional reserve buildup, and higher growth are key program objectives for the Jordanian authorities. Despite the socially difficult elimination of the fuel subsidy, program performance was mixed. Initiatives to strengthen banking supervision and develop capital markets...

The new government is committed to prudent macroeconomic policies and to enhancing Georgia’s business-friendly environment. Large external liabilities plus its high current account deficit remain the main sources of vulnerability, and reducing these in an orderly manner is a key macroeconomic...

Morocco’s sound economic performance has been challenged by domestic and external shocks. The Precautionary and Liquidity Line (PLL) program is on track, and its design remains adequate. The fiscal consolidation and efforts to rebuild buffers and address medium-term challenges taken up by the...

The article is a review on Djibouti’s Extended Credit Facility (ECF) program and the performance of economic development in the program. The ECF program helped Djibouti to maintain macroeconomic stability, and the period underwent a transformation in the Djiboutian economy. The country saw an...