This paper focuses on Nepal’s First Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. The difficult political and security situation notwithstanding, the PRGF-supported program is broadly on track....

This Selected Issues and Statistical Appendix paper analyzes recent economic developments in Guinea-Bissau. The paper highlights the structural problems that will need to be addressed over the next few years if Guinea-Bissau is to break through the downward spiral of declining economic activity,...

This paper presents Indonesia’s 2005 Article IV Consultation and Third Post-Program Monitoring discussions. The economic strategy has produced positive results over time. Economic growth has gained momentum year by year, inflation has been substantially reduced, and the external position...

The staff report for the 2004 Article IV Consultation on Lao People’s Democratic Republic (PDR) highlights economic developments and policies. Lao PDR’s recent macroeconomic performance has been relatively encouraging. Although some headway has been made in reforming the state...

This Selected Issues paper on the Federated States of Micronesia (FSM) underlies economic development. Since independence, the FSM has been heavily dependent on assistance from the United States. With government expenditure of more than 60 percent of GDP, the private sector remains...

This Report on the Observance of Standards and Codes (ROSC) examines Fiscal Transparency for Cyprus. The report reveals that Cyprus has been making major progress in improving fiscal transparency, helped by the government’s efforts to strengthen budget management systems and comply with...

This paper evaluates Tajikistan’s 2002 Article IV Consultation and a Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Tajikistan’s previous IMF-supported program went off track in mid-2001 largely because of poor progress with structural...

This 2004 Article IV Consultation highlights that Slovakia’s economic performance has improved since the 2003 Article IV Consultation. Output has expanded strongly, and fiscal and external balances have narrowed substantially in recent years. These developments were assisted by large...

This paper reviews Ex-Post Assessment of Performance Under IMF-Supported Programs for Guinea-Bissau. More than two-thirds of the population of approximately 1.3 million is living below the poverty line in Guinea-Bissau. The paper describes developments under IMF-supported programs since 1993,...

Benin’s Fifth Review under the Poverty Reduction and Growth Facility and request for waiver of Nonobservance of Performance Criteria are discussed. The main challenge ahead is to limit inflation pressures from higher food and fuel prices while sustaining medium-term fiscal consolidation...