This paper discusses findings of Fourth Progress Report on Spain’s financial sector reform. Implementation of Spain’s financial sector program remains on track. Essentially all measures specified in the program have now been implemented, as envisaged under its front-loaded...

The Czech Republic’s strong fundamentals helped to sustain economic growth with low unemployment and underpin strides toward convergence with EU-15. Executive Directors welcomed the euro accession strategy and the sustained implementation of the Maastricht criteria, which would provide a...

The Gambia’s 2008 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility are discussed. A sharp appreciation of the dalasi in 2007 has mitigated the impact of increases in world food and oil prices. The authorities’ response to the continuing rise...

Pakistan’s authorities have requested a 23-month Stand-By Arrangement for SDR 5.169 billion in support of their macroeconomic stabilization program. The authorities’ program envisages a tightening of fiscal and monetary policies to bring down inflation and reduce the external...

This 2010 Article IV Consultation highlights that growth in Peru decelerated sharply in 2009, owing to the global financial crisis, but remained positive at about 1 percent for the year, despite a few months in negative territory. Thanks to the strong buffers built in recent years, Peru was able...

This 2013 Article IV Consultation highlights that Peru’s economy continues to be a leader in high growth and low inflation in the region, which has been achieved through a prudent macroeconomic policy implementation, a far-reaching structural reform agenda and taking advantage of the...