This paper provides model-based projections of inflation, and quantifies the impact of the factors that determine inflation. The reasons behind the poor labor market performance in Greece and the remedial policies are discussed. The new economy is at a relatively early stage of development in...

This Selected Issues paper examines the potential costs of faster disinflation in Russia, drawing on the experience of European transition countries. The paper analyzes this experience, discusses factors contributing to the persistence of moderate inflation, and quantifies the disinflation costs...

This 2005 Article IV Consultation highlights that since the last Article IV Consultation, Bangladesh’s economy has continued to expand, supported by a stable macroeconomic environment and progress in implementing structural reforms, broadly in line with the recommendations made by the IMF...

This Selected Issues paper and Statistical Appendix paper examines the issue of dollarization in Albania against the background of rapidly evolving banking, policy and prudential systems, and of growing importance of monetary policy as a tool for demand management. The period covered is...

Despite repeated shocks, the United States economy has provided valuable support for global growth. Executive Directors commended this development, and stressed the need to tighten fiscal and monetary policies. They welcomed the assessment of the fiscal transparency Reports on Observance of...

This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital...

This 2005 Article IV Consultation highlights that Zimbabwe’s pace of economic deterioration slowed somewhat in 2004, but appears to have picked up again in the first half of 2005. IMF staff estimates that real GDP fell by about 4 percent in 2004, compared with a contraction of 10½...

This 2004 Article IV Consultation highlights that the three-year Poverty Reduction and Growth Facility arrangement for Vietnam expired in April 2004. During the arrangement, Vietnam maintained strong economic growth and low inflation, and achieved further poverty reduction, supported by...

Tunisia showed strong economic performance, low inflation, and reduced poverty owing to its sound and transparent macroeconomic policies, trade liberalization, and social policies. Executive Directors commended this development, and stressed the need to tighten monetary and fiscal policies, and...

This paper on recent developments and regional policy issues in the Central African Economic and Monetary Community (CEMAC) discusses the recent development and trends in economic integration. Trade restrictions and an uneven application of CEMAC rules constrain external and intraregional trade....