This paper on Romania was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on September 13, 2012. The views expressed in this...

This Selected Issues paper focuses on policies to address climate change in Ukraine. The war has been a setback to continued progress on Ukraine's climate objectives. Over the longer term, Ukraine has potential to implement policies that internalize climate-related priorities as well as...

This Selected Issues paper discusses reforming the state-owned enterprises (SOE) sector in Botswana. The authorities are committed to diversifying the economy and growing the relative size of the private sector but, until now, progress has been limited. Compared to other emerging markets, SOEs...

This paper highlights Central African Economic and Monetary Community's (CEMAC) common policies in support of member countries reform programs. CEMAC benefited from favorable hydrocarbon prices in 2022. Economic recovery firmed up and the external position strengthened, with external reserves...

This paper discusses Central African Economic and Monetary Community's (CEMAC) Common Policies in Support of Member Countries Reform Programs. CEMAC ended 2021 in a fragile external position, with gross reserves at only 2.7 months of prospective imports and net foreign assets at their lowest...

This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated sharply in early 2013. First quarter GDP growth rose to 4.1 percent (seasonally adjusted annual rate) after two quarters of stagnation. Rising equity values stimulated consumption,...

This staff report on Saudi Arabia’s 2013 Article IV Consultation discusses economic policies and development. As the largest crude oil exporter, and the only producer with significant spare capacity, Saudi Arabia plays a systemic and stabilizing role in the global oil market. In 2011,...

The first paper is on the oil boom in Azerbaijan, which presents a unique opportunity to speed up the development agenda, but at the same time poses challenges to the management of macroeconomic policy. A new fiscal framework to sustain macroeconomic stability and achieve fiscal sustainability...

This staff report on the Republic of Serbia’s Article IV Consultation highlights economic background and policies. The global financial crisis exposed Serbia’s unsustainable growth model and its key vulnerabilities. Robust growth has not taken off, and economic activity is below...