Armenia showed strong economic performance owing to its prudent macroeconomic policies and structural reforms, under the Poverty Reduction Growth Facility (PRGF) Arrangement. Executive Directors welcomed this development, and stressed the need to strengthen the tax system, structural reform...

Performance under the program has been satisfactory. Real GDP growth is higher than estimated owing to substantially higher than projected agricultural production. Burkina Faso continues to depend heavily on external assistance and on cotton exports, and is highly vulnerable to terms-of-trade...

In the aftermath of adverse supply shocks, and with further measures to promote investment, growth of production and exports is expected to recover. Efforts to remove barriers to investment and ensure a reliable provision of electricity are critical to private-sector-led growth. External...

The staff report for the Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility on Georgia focuses on economic developments and policies. The fiscal situation deteriorated sharply in 2003, especially because of a weakening in expenditure management and in tax...

This paper examines Mali’s 2001 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility (PRGF), Third Annual Program, and Request for Modification of Performance Criteria. Program implementation to date has been satisfactory, with all quantitative performance...

Jamaica has achieved considerable success in reducing inflation, restructuring the financial system after the crisis in 1995–96, and further liberalizing the economy through tariff reduction and privatization. The government is urged to strengthen its efforts to put the economy on a less...

The Solomon Islands’s 2005 Article IV Consultation reports that the improvement in the economic performance registered after the arrival of the Australian-led intervention force in mid-2003 has continued. The projected deterioration in the external current account reflects...

This paper presents Nigeria’s Request for a Two-Year Policy Support Instrument to support its reform efforts. All three tiers of government have adhered to a conservative oil price-based fiscal rule, resulting in large overall budget surpluses and a significant buildup of international...

This 2004 Article IV Consultation highlights that Vanuatu’s real GDP growth rebounded to 2.4 percent in 2003, and the recovery continued in 2004 with growth of an estimated 3 percent. The improvement was bolstered by a strong supply response to a recovery in export prices and the...

The Fourth Review Under the Poverty Reduction and Growth Facility and Requests for Waiver of Nonobservance of Performance Criteria for Rwanda are analyzed. The implementation of policies improved considerably in 2004, although economic performance has been adversely affected by exogenous shocks....