This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...

This Article IV Consultation highlights that Senegal is pursuing its macroeconomic policies within an economic program supported by the IMF’s Policy Support Instrument (PSI). Executive Directors noted that signs of a recovery have become visible, and emphasized that prudent domestic...

The economy of Honduras contracted as a result of the global economic crisis. In the economic policy area, the authorities gave priority to strengthening the financial position of the public sector and restarting the external assistance. Measures are taken to strengthen the fiscal position, in...

Latvia has rebounded from the crisis, after successfully undertaking a difficult adjustment program. The recovery has been well balanced between external and domestic demand. The labor market is improving but unemployment is still high. Past consolidation efforts have brought down the fiscal...

Ireland’s recovery has been robust. Growth is estimated at about 5 percent in 2014, although offshore manufacturing of exports appears to have made a significant contribution. The unemployment rate has declined to 10½ percent, down from a peak of 15 percent three years ago, with...

Since its independence in 2006, Montenegro has experienced an economic and financial roller coaster ride. The baseline is predicated on continued improvements in cost competitiveness and productivity-raising foreign direct investment (FDI). Avoiding a relapse into recession will thus require...

The 2010 staff report for the Third and Final Review Under the Stand-By Arrangement (SBA) reviews the economic performance of Costa Rica. The structural benchmarks related to the deposit insurance and bank resolution framework were delayed owing to a longer-than-expected consultation process....

The economic recovery in the U.A.E. is gaining strength, but subject to increased regional uncertainty. The government should undertake cost-benefit analysis and implement projects that have high economic return. In order to reduce government-related entities (GRE) risks, the authorities should...