Israel was mildly affected by the global recession: following a slowdown in 2009, output is projected to grow by some 4 percent in 2010, led by consumption and exports. Robust fundamentals—including sustained pre-crisis fiscal consolidation—and a swift monetary and fiscal policy...

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 2013 Article IV Consultation highlights that recent macroeconomic developments in The Federal Democratic Republic of Ethiopia are encouraging, with a significant deceleration in inflation and continued robust economic growth. Despite significant decline in coffee prices and supply...

The Israeli economy is performing exceptionally well, but still high public indebtedness calls for the continuation of strong economic policies. Monetary policy has successfully stabilized inflation expectations, but policy and communication challenges remain. The recent positive fiscal...

Barbados’s 2008 Article IV Consultation is focused on policies to balance the conflicting risks to inflation, growth, and medium-term sustainability. Although the government has maintained some policy space by postponing the liberalization of the capital account, its options are...

The staff report for the 2007 Article IV Consultation highlights the Slovak Republic’s macroeconomic outlook and policy discussions. The National Bank of Slovakia (NBS) has been following a hybrid monetary framework focused on restraining inflation and on maintaining the exchange rate...

This 2007 Article IV Consultation highlights that economic performance of Ireland remains strong, supported by sound policies. The growth rate of real GNP per capita continues to be one of the highest among advanced economies and the unemployment rate one of the lowest. However, in recent years,...

This Selected Issues paper for Thailand highlights the effect of higher global interest rates on Thailand and the relationship between financial crises and long-term potential growth. Since the Asian crisis, Thailand has adopted an inflation targeting regime, and has intervened in the foreign...

This 2007 Article IV Consultation highlights that boom in private consumption in Iceland was facilitated by easing household credit conditions, tax cuts, rapidly rising housing and equity wealth, and an appreciating real exchange rate. As a result, the output gap peaked at over 5 percent in...