This technical note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Malta summarizes the findings of a targeted review of several aspects of Malta's progress in addressing AML/CFT vulnerabilities in the financial sector, specifically the banking sector. The...

The purpose of the missions of Phase I was to develop a functional central bank, including establishing a modern banking supervisory regime. Especially, MCM provided TA missions under the Phase I that have focused on operationalizing banking license capacity, development of on and offsite...

This paper presents country experiences with reforms to strengthen regulatory oversight of the Islamic banking sector. Based on the selected country experiences, a number of important lessons and policy options can be drawn that have implications for the stable and sound development of Islamic...

This 2019 Article IV Consultation discusses that structural reforms, strengthened policy frameworks and the ongoing smooth political transition have laid the foundations for sustained growth in El Salvador. The discussions focused on policies that build on these achievements and address fiscal...

This 2019 Article IV Consultation discusses that stronger real gross domestic product (GDP) growth is envisaged in the near term, with a recovery in hydrocarbon output. Medium-term growth will be buoyed by increased gas production and non-hydrocarbon growth. Expenditure consolidation would help...

This 2019 Article IV Consultation highlights that Aruba's economic recovery continues, although at a slowing pace. The authorities have managed well the impact of the crisis in Venezuela through diversification of product markets and tourism sources. Nonetheless, a deepening of the crisis is a...

This paper presents Armenia's 2019 Article IV Consultation report and request for a Stand-By Arrangement (SBA). The arrangement is intended to be precautionary. It will provide insurance against external shocks and support the authorities' efforts to strengthen economic fundamentals and policy...

This 2019 Article IV Consultation discusses that growth in Maldives has been strong and is projected to remain so in 2019 driven by tourism, commerce, and construction. Nonetheless, the Maldives remains highly vulnerable with reduced policy space due to large and growing public debt and rising...

While many advanced economies are experiencing slower growth, Norway's output has continued to expand strongly, helped by a robust labor market, positive terms of trade, and some competitiveness gains. Core inflation has picked up to close to 2u percent. Residential house price growth has...