The Iranian economy recovered on the strength of international oil prices, strong rebound in agricultural sector, and rapid credit expansion. Inflation was contained while fiscal and external positions improved. Key policy priorities are to maintain short-term macroeconomic stability, transition...

This study estimated Indonesia's potential growth rate and examined its underlying determinants. Implementing a comprehensive program to address key influencing issues can improve the effectiveness of monetary policy, increase financial stability, and support capital market development. This...

This Selected Issues paper reviews the performance and reform plans for public bodies (PBs) in Trinidad and Tobago. PBs represent a source of fiscal risk to the government through the generation of financial losses, with current and capital transfers from the central government to PBs amounting...

This paper attempts to assess the impact of the oil shock on South Asian economies, including Sri Lanka, as well as policy responses to deal with the shock, and the real income loss for low-income households if fuel subsidies were fully removed. The most important impact has been on the balance...

The Savings Working Group in New Zealand presented recommendations in February 2011, and suggested raising national saving by 2–3 percent of GDP. The increase in net public saving in the country explains part of the reason for lower net private saving in New Zealand. Net public saving of...

This Selected Issues paper estimates both Guatemala’s potential output and output gap using a wide range of econometric techniques. The analysis suggests that Guatemala’s potential output growth is about 3.5 percent for the whole sample period and that the output gap is almost...

This 2014 Article IV Consultation highlights that after a steady recovery during 2010–12 from the deep 2009 recession, Armenia’s growth softened in 2013 and has remained subdued in 2014. The softening of economic activity has been broad based, as growth of exports and remittances...

This 2013 Article IV Consultation highlights that Sierra Leone has made significant progress in macroeconomic stabilization over the last five years. Real GDP growth averaged some 7 percent, driven by output expansion in agriculture, mining, and services; as well as the scaling-up of...