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 paper on Romania was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on September 13, 2012. The views expressed in this...

Since the 2014 FSAP, Denmark's financial safety net and crisis management frameworks, including bank resolution, have improved significantly. In response to the FSAP and the transposition of the pertinent European Union (EU) rules, Denmark has enacted major reforms including new legislation for...

This report on Belgium discusses the technical note on financial safety net and crisis management. The authorities should now focus on strengthening the crisis management framework, ensure the operational readiness of resolution plans and enhancing the Deposit Insurance System. The Belgium...

Since the 2008 Financial Sector Assessment Program (FSAP), the financial sector of the West African Economic and Monetary Union (WAEMU) has undergone major changes that have altered its risk profile. Three structural changes have played a key role since the 2008 FSAP: (i) the financial sector...

This Selected Issues paper summarizes estimates of the gap between current housing prices and their equilibrium levels in the United States. It examines short-term dynamics of price adjustment. Reflecting uncertainties about how to analyze underlying housing price trends, two approaches are used...

This Selected Issues paper on the Republic of Poland constructs a financial conditions index for Poland to explore the link between financial conditions and real economic activity. Measures to contain the fiscal deficit in the aftermath of the global financial crisis led to a reduction in the...

A Technical Assistance (TA) mission was conducted in July 2021 to review the data sources and methods used to produce revised estimates of the Kenyan National Accounts (NA) for the period 2009-2019. The mission also provided guidance on producing a revision report to be published at the time of...

From the 2002 Financial Sector Assessment Program (FSAP), a number of structural reforms have been carried out in the financial system. A number of measures have been taken in the regulatory, fiscal, and legal areas to improve credit quality and financial transparency. The stress test confirms...

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...