KEY ISSUES Context. High oil prices and increased production have enabled the government to continue to record high fiscal and external surpluses and build strong buffers. Large infrastructure investments are expected to support the growth momentum. Outlook and risks. Overall real non-oil gross...

This paper discusses 2012 Article IV Consultation of Republic of Uzbekistan. Uzbekistan has been experiencing strong momentum in economic growth supported by sustained public investment and increased prices for commodity exports. The IMF report suggests that it is important to ease the...

This selected issue paper discusses the desirable institutional and macro-financial conditions and optimal path toward greater exchange rate flexibility in the Islamic Republic of Mauritania. It also identifies the macro-financial risks that arise and mitigation measures supporting a smooth...

On the occasion of the World Bank-IMF Annual Meetings' return to the African continent after 50 years-specifically to Marrakech, Morocco-this Special Issue on Africa discusses economic developments for the entire continent. After four years of crises and at the close of another difficult year,...

KEY ISSUES Inflation subsided in 2013 but preexisting and emerging macro-financial vulnerabilities need to be tackled. After reaching a 15-year high in 2012, inflation is coming back within the central bank’s target thanks to tighter monetary policy and fiscal consolidation. However, a recent...

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