This Selected Issues paper reviews recent developments in growth and employment in Bulgaria and highlights key constraints to growth suggested by cross-country competitiveness studies. Bulgaria’s GDP has grown substantially since economic and financial stabilization in 1997. The global...

This Selected Issues paper and Statistical Appendix analyzes labor market institutions and reforms for Cyprus. The paper describes the legal and institutional framework of the Cypriot labor market, and discusses the voluntary framework for negotiations, the degree of unionization and the system...

This paper on Selected Issues 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 October 23, 2012. The views expressed in this...

This paper assesses Estonia’s flexibility from two angles. The paper focuses on one aspect of that performance—the ability to sustain competitiveness. Then, a more forward-looking angle is the flexibility of Estonia’s labor and product markets. Estonia has made great...

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 presents a technical note on Mexico’s Financial Sector Assessment Program update. The Mexican experience displays interesting characteristics that provide lessons for other countries that still need to design the decumulation phase of their newly established second pillars. The...

This 2007 Article IV Consultation highlights that Tonga’s real GDP growth is estimated to turn negative in FY06/07, declining by 3½ percent. The economy will continue to be subject to uncertainty and shocks. While economic growth should return to positive, albeit low, levels in the...

This 2013 Article IV Consultation highlights that The Zambian economy has performed well in recent years, with strong growth and modest inflation, and has high growth potential. The government has resolved to step up development by scaling up investment in infrastructure. The current fiscal...