The Ghanaian economy suffered a fallout from the large terms-of-trade shock that began in 1999. The fiscal program adopted is prudent and faces up to the country's difficult economic circumstances. Effective control of public expenditure commitments will be essential to the success of the...

EXECUTIVE SUMMARY The near-term outlook continues to improve and program implementation remains on track. Activity and employment have turned out better than expected, supported by reduced economic uncertainty and benign market conditions in the region. The authorities have scaled up their...

This paper presents background information on selected aspects of adjustment and growth strategy for Jordan. The paper deals with the key developments in the Jordanian economy since 1989 compared with its developments in the 1970s and 1980s. It presents an overview of Jordan’s economic...

The current account deficit by the Central Bank of Bosnia and Herzegovina in recent years has fluctuated to about 20 percent of GDP. But official current account statistics suffer from several shortcomings. Possible sources of the savings required to achieve a fiscal position consistent with...

This paper presents a debt sustainability analysis for St. Lucia. The medium-term scenario prepared by the IMF staff assumes continued fiscal consolidation and thus is compatible with sustainable debt levels even in the presence of adverse economic shocks. Stress tests show that stabilizing the...