This paper examines Sudan’s 2005 Article IV Consultation and the Final Review of the 2004 and 2005 Staff-Monitored Program (SMP). Between 2001 and 2004, the economy of Sudan grew at an average rate of 6.4 percent per year, and the non-oil sector expanded at an annual rate of 5.3 percent. The...

This paper focuses on the 2012 Article IV Consultation and Second Post-Program Monitoring Discussions with Belarus. Since mid-2011, the authorities have been implementing stabilization measures. The financial system has weathered the 2011 crisis, and banks’ capital has been replenished with...

The Irish authorities are adopting consolidation measures to meet the original fiscal targets as well as implementing structural reforms in the labor market and sheltered sectors to enhance competitiveness. Strengthened euro area support for Ireland’s growth and debt sustainability would...

Hungary was severely affected by the crisis. The financial sector has remained resilient throughout the crisis. The Central Bank (MNB) paused in mid-2010 and has tightened interest rates by 50 basis points since November in response to a sharp rise in risk premia and higher headline inflation...

Indonesia’s Fourth Post-Program Monitoring discussions highlight that short-term macroeconomic indicators and near-term prospects have deteriorated. Financial sector vulnerabilities have increased in the face of rising interest rates and a slowing economy, but the overall banking sector...

This 2006 Article IV Consultation highlights that the Jordanian economy has performed remarkably well in recent years, mainly owing to far-reaching macroeconomic and structural reforms. Despite negative shocks, growth has been robust, inflation has remained low, public debt has continued to...

The staff report for the 2005 Article IV Consultation on the Philippines highlights managing short-term vulnerabilities and higher investment and growth. Power generation tariffs have been raised to substantially cut the losses of the National Power Corporation (NPC). A risk to the near-term...

This paper presents Indonesia’s 2005 Article IV Consultation and Third Post-Program Monitoring discussions. The economic strategy has produced positive results over time. Economic growth has gained momentum year by year, inflation has been substantially reduced, and the external position has...

The continuing weakness of activity in the euro area reflects an amalgam of cyclical and long-term forces that are likely to shape the outlook and to challenge policies. Financial conditions in the area have improved along with those in global markets, though financial fragilities may be...