The 2011 Article IV Consultation highlights that low growth is expected for Montserrat in 2011 after sharp output contractions in 2009–10. Stress in the financial sector and slower-than-expected development of major capital investment projects continue to limit prospects for growth. Directors...

Poverty and unemployment remained high in Botswana. The shortcomings of the labor market policies are responsible for a high unemployment rate. This selected issues paper sheds considerable light on ways that Botswana can enhance inclusive growth and reduce the high level of structural...

This paper suggests that it is essential to save a substantial portion of mineral revenues now to ensure fiscal sustainability for a post-diamond period. Taking the non-mineral primary balance into account can help clarify desirable fiscal policies. Botswana’s real effective exchange rate is...

KEY ISSUES Context. High oil prices and increased production have enabled the government to continue to record high fiscal and external surpluses and build strong buffers. Large infrastructure investments are expected to support the growth momentum. Outlook and risks. Overall real non-oil gross...

This Selected Issues paper examines fiscal policy implications for labor market and economic diversification in Botswana. The IMF report analyzes that large public employment significantly affect labor market outcomes in middle-income countries, including Botswana. It is noted that reforms aimed...

This paper examines Ethiopia’s 2004 Article IV Consultation and Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). The PRGF program remains on track. All the quantitative performance criteria under the PRGF for end-March 2004, the structural...

This paper on Poverty Reduction Strategy Papers (PRSPs) on Kenya explains macroeconomic, structural, and social policies in support of growth and poverty reduction, as well as associated external financing needs and major sources of financing. The overall objective of macroeconomic policy is to...

This paper examines economic developments and policies in Canada during 1990–95. Spurred by the robust growth in the United States and the easing of monetary conditions between 1991 and 1993, economic growth in Canada continued to strengthen during 1994. Real GDP grew by 4.5 percent in 1994...

Sound macroeconomic management, supported by structural reform, has characterized Albania's performance under the current Poverty Reduction and Growth Facility (PRGF) arrangement, although poverty and emigration remain pervasive. Privatization is moving forward in the telecommunications sector...