The Selected Issue Paper discusses the Swiss National Bank’s (SNB) balance sheet risks and policy implications. Despite increased profit allocations, SNB capital has not kept pace with its growing balance sheet. The paper also explores the empirical determinants of pressures on the Swiss...

This 2012 Article IV Consultation focuses on the financial sector and macroeconomic situation in Vietnam. The authorities adopted a stabilization package in February 2011 in response to increasing pressures on prices and the exchange rate in late 2010. Executive Directors commended the...

This paper discusses Romania’s Request for a Stand-By Arrangement (SBA). Since the 2008 global financial crisis, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers. However, Romania remains vulnerable to external shocks,...

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...

The paper examines domestic revenue mobilization in Mauritania and proposes strategies to enhance tax revenue collection to address fiscal sustainability challenges and finance critical investment projects. Despite recent progress, Mauritania's tax-to-GDP ratio remains below that of its peers,...

The paper explores the financial development landscape in Mauritania, highlighting its bank-centric structure and limited financial market development. Despite a large number of banks, financial intermediation remains weak, with low private-sector credit to GDP, limited financial inclusion, and...