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The staff report for the First Review Under the Stand-By Arrangement with the officials of Georgia highlights economic developments and policies. Sustaining economic growth and maintaining confidence in the currency and the financial system within the constraints of available external financing...
Persistent link: https://www.econbiz.de/10011244543
This paper discusses key findings of the Sixth Review Under the Poverty Reduction and Growth Facility (PRGF) for Georgia. Economic performance in recent years has been impressive, with the establishment of macroeconomic stability, a dramatic fiscal turnaround, and remarkable improvements in...
Persistent link: https://www.econbiz.de/10011244606
The 2007 Article IV Consultation reports on Ghana’s recent economic and policy development. Public Financial Management (PFM) has been strengthened through improvements in fiscal reporting and deployment of the new computerized payroll management system. Executive Directors commended the...
Persistent link: https://www.econbiz.de/10011244661
This 2007 Article IV Consultation highlights that Bulgaria’s large external imbalance has continued to widen. Driven by massive capital inflows, particularly foreign direct investment inflows, the current account deficit could reach a record level of 20 percent of GDP in 2007. Although...
Persistent link: https://www.econbiz.de/10011244823
Kenya’s strong economic performance in recent years with real GDP growth of 6 percent on average over 2004–07 has been stalled by a series of exogenous but temporary shocks that hit the economy in 2008. The staff report highlights Kenya's request for Disbursement under the...
Persistent link: https://www.econbiz.de/10011244825
This paper examines Georgia’s request for an 18-month arrangement for SDR 477.1 million, equivalent to about US$750 million, which would constitute exceptional access. IMF support to the government’s macroeconomic policies is intended to provide the needed financing to rebuild...
Persistent link: https://www.econbiz.de/10011244842
The 2012 Article IV Consultation reports that Iceland’s fiscal consolidation is continuing, but at a slower pace. Moderate expenditure overruns materialized in 2011, which will partly spill over to 2012 and the medium term. A key priority is to put the medium-term fiscal path back on...
Persistent link: https://www.econbiz.de/10011245037
The Eastern Caribbean Currency Union (ECCU) countries financial system has increasingly come under stress particularly through weakly supervised nonbank and offshore financial sectors with knock-on effects to domestic banks. The staff report focuses on ECCU’s 2009 discussion on common...
Persistent link: https://www.econbiz.de/10011245111
The paper describes the impressive economic progress made by Iceland in implementing program policies, stabilizing the exchange rate, and bringing inflation down, under a program supported by a Stand-By Arrangement (SBA). The authorities noted that key challenges are to reduce the high level of...
Persistent link: https://www.econbiz.de/10011245508
This 2008 Article IV Consultation discusses that Bulgaria has been hit by the global financial crisis, with clear signs that the country’s capital inflows-driven boom has come to an end and that the real economy is slowing down. Executive Directors have commended the Bulgarian authorities...
Persistent link: https://www.econbiz.de/10011245599