In April 2009, the Boards of Executive Directors of the International Development Association (IDA) and the International Monetary Fund (IMF) agreed that Côte d’Ivoire had met the requirements for reaching the decision point under the Enhanced Heavily Indebted Poor Countries (HIPC)...

The Second Review Under the Stand-By Arrangement with St. Kitts and Nevis highlights that economic activity continued to contract in 2011 while the current account balance improved and banks remained sound. All quantitative performance criteria for end-December 2011 were met, and the structural...

This study is carried out against a backdrop of deep divisions in Greece and in Europe over how to handle the challenges now confronting Greece. Greece’s deeper medium-term policy needs and identifying ways to replace the expected market financing are discussed. Structural reforms tackled...

This article is a report of the IMF Executive Board’s program for Antigua and Barbuda. The Stand-By Arrangement program was developed as a response to the looming fiscal crisis, which resulted in large fiscal deficits and debts similar to the global crisis. The program is approved to...

This 2007 Article IV Consultation highlights that macroeconomic outcomes for Antigua and Barbuda have strengthened significantly in recent years. Real GDP growth averaged 5 percent during 2003–05, and is estimated to have reached 12 percent in 2006. There has been progress in implementing...

Cambodia achieved macroeconomic stability underpinned by prudent fiscal and monetary policies. Executive Directors commended this development. They welcomed the National Strategic Development Plan for reducing poverty, enhancing physical infrastructure, and improving social services. They...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) for the Republic of Congo. Policy implementation through the first half of 2009 was satisfactory. All quantitative performance criteria and all but one of the structural benchmarks were...

Cape Verde’s economic and policy performance remains sound under the Poverty Reduction and Growth Facility (PRGF) arrangement supported by Policy Support Instrument (PSI). Executive Directors commended the prudent macroeconomic policies and structural reforms. They emphasized the need for...

Political pressure for faster delivery of tangible economic results has mounted against a backdrop of slower-than-expected economic growth, job losses in some sectors, and delays in infrastructure provision. Macroeconomic performance weakened in 2009 owing to the global recession, but tentative...