The key findings of the Czech Republic’s 2010 Article IV Consultation are discussed. Large foreign direct investment inflows fostered trade integration, underpinning an export-led expansion. Higher initial standard of living contained consumption convergence pressures. An improved fiscal...

The staff report for the 2007 Article IV Consultation on Sri Lanka highlights economic growth development and performance. Rising inflation, a high current account deficit, and low unemployment rate indicate that the economy may be operating at full capacity. High stock of public debt, rising...

This Selected Issues paper analyzes medium-term fiscal sustainability in Trinidad and Tobago. The paper focuses on the challenge of distributing the nonrenewable resource wealth across generations. Its recommendations are geared toward the goal of intergenerational distribution and therefore...

Papua New Guinea has seen solid economic growth over the past decade, supported by sound macroeconomic policies. This 2012 Article IV Consultation discusses that the financial sector in Papua New Guinea remains profitable and well capitalized, but vulnerabilities have increased. Executive...

The Congolese authorities requested an IMF staff-monitored program (SMP), in support of the economic program they spelled out in the accompanying Memorandum on Economic and Financial Policies (MEFP). The Democratic Republic of the Congo showed remarkable macroeconomic stability under the Poverty...

Madagascar is one of the poorest countries in sub-Saharan Africa, ranking 146 out of 177 on the United Nations Human Development Index. The country has one of the lowest tax revenue-to-GDP ratios in the world (10.1 percent in 2005). To address these challenges, the authorities are requesting a...

The Federal Democratic Republic of Ethiopia’s 2005 Article IV Consultation reports that domestic credit growth has accelerated, driven by strong demand from the government, public enterprises, and the private sector. High import content, particularly from public infrastructure...

Economic growth finally turned positive, but further recovery will be delayed, as fiscal austerity measures and recent floods will weigh on domestic demand. The macroeconomic outlook has weakened and continues to be subject to exceptional uncertainties. With the enactment of the ambitious...

Strong macroeconomic foundations have so far largely shielded the Netherlands from recent financial turbulence. Despite a tightening labor market, inflation remains subdued. Employment has grown 1¼–1½ percent in 2007, on par with the rest of the Euro area. The external current...

The current cyclical upswing underscores the potential of the Polish economy with regard to EU accession and in the face of favorable global growth prospects. The current juncture offers good opportunities to lock in improved economic performance. Uncertainties remain regarding reducing the...