This 2007 Article IV Consultation highlights that the lengthy expansion brought the Australian economy to a position of near full employment. Inflation had eased in late 2006 and early 2007, but accelerated in the second quarter. The current account deficit was 5½ percent of GDP in 2006. The...

The staff report for the 2008 Article IV Consultation of the Former Yugoslav Republic of Macedonia discusses economic developments and policies. The new government’s economic program aims to raise growth further, but does not address these vulnerabilities. Plans to increase the central...

This 2008 Article IV Consultation highlights that Malta has experienced a three-year-long expansion reflecting strong foreign direct investment, export diversification, and value-added upgrading. Financial soundness indicators held up in 2007 despite unfavorable international developments. The...

This 2007 Article IV Consultation highlights that real GDP in South Africa grew by 5 percent in 2006 and continued to grow vigorously in early 2007. Growth was driven by strong domestic demand, with private consumption and investment spending supported by continuing robust consumer and business...

This 2005 Article IV Consultation highlights that Australia has implemented wide-ranging structural reforms and strengthened the frameworks for monetary and fiscal policies over the past two decades. As a result, Australia’s economic expansion is now in its 14th year, with growth...

Australia’s 2004 Article IV Consultation reports that economic growth has rebounded, underpinned by continued buoyancy of domestic demand, an improvement in the external environment, and a gradual recovery from the drought. The main risk to the outlook relates to overheating in the...

South Africa showed strong macroeconomic performance owing to its sound policies, which aimed at raising economic growth and reducing poverty, within a stable macroeconomic, social, and political environment. Executive Directors commended the strong economic performance, sustainable fiscal...

Lebanon recovered from the financial shock triggered by Prime Minister Hariri’s assassination. Executive Directors supported the strategy of debt reduction through sustained fiscal adjustment. They welcomed the proactive stance of banking sector supervision and encouraged adoption of a...

This paper discusses key findings of the Second Review Under the Policy Support Instrument for Nigeria. All assessment criteria through end-September were met except for one civil service-related measure. Remedial measures have prevented the civil service reform program from being compromised....