This paper discusses the Iraqi authorities' request for a Staff-Monitored Program (SMP). The authorities have requested an SMP to establish a track record of policy credibility to pave the way to a possible IMF financing arrangement. Under the SMP, the authorities will implement fiscal...

Growth remained strong at 7.2 percent in 2017, with inflation contained at 1.3 percent. Higher oil prices and increased capital goods imports significantly widened the current account deficit. The macroeconomic framework in this staff report uses a new GDP series which updates the base year from...

The macroeconomic effects of scaling up aid -- Managing the real exchange rate -- Using monetary policy for sterilization and inflation management -- Mobilizing adequate domestic revenues -- Projecting the impact of increased aid on economic growth -- Meeting other fiscal challenges --...