The global financial crisis had a much more pronounced impact on South Africa relative to some other large emerging markets. The overriding economic policy challenge is to reduce unemployment and inequality through higher economic growth. Unemployment is a key policy focus; and a wage subsidy...

This 2008 Article IV Consultation highlights that Ghana’s growth has remained strong, fuelled by both the private and public sectors. The Ghanaian economy maintained strong growth of about 6½ percent in 2007 and the first months of 2008. The private sector has responded positively to...

The Article IV Consultation highlights the financial system risks that have increased reflecting both the global financial market turbulence and continued rapid credit growth in Hungary. With most new borrowing in foreign currency, the private sector’s net foreign currency liabilities...

Bosnia and Herzegovina has enjoyed rapid growth and price stability in recent years, but stronger policy ownership, improved policy coordination, and meaningful progress in structural reform are needed to provide the basis for sustained, private sector-led growth. Ensuring the sustainability of...

The Lebanese authorities have requested follow-up Emergency Post-Conflict Assistance with an access of 12.5 percent of quota to support their economic program. The 2006 war with Israel led to a political stalemate and repeated outbreaks of domestic fighting until the formation of a national...

This paper presents key findings of the Fifth Review under the Policy Support Instrument for Cape Verde. All quantitative assessment criteria for end-June 2008 were met. GDP growth remains generally resilient, and inflation pressures have been contained. Progress on structural measures has been...

This Article 2008 IV Consultation highlights that Bosnia and Herzegovina’s economy has been exhibiting robust growth, but imbalances have emerged. The current account deficit has widened and underlying inflation has picked up. Procyclical fiscal policy has added to these imbalances....

This 2008 Article IV Consultation highlights that Mauritania’s macroeconomic performance over recent years was satisfactory, despite a steeper-than-expected decline in oil production reflecting persistent technical problems a and difficult external environment. The real non-oil GDP growth...

A strong policy framework and improved income distribution and social outcomes have been important accomplishments in Brazil. The 2012 Article IV Consultation highlights that financial stability in Brazil has been underpinned by a strong banking system and framework for regulation and...

The 2007 Article IV Consultation with Grenada discusses strong economic rebound in the aftermath of a hurricane devastation and broadly favorable economic prospects, with major tourism investments under way and the gradual recovery of the agricultural sector. The government’s highly...