The Eastern Caribbean Currency Union (ECCU) countries financial system has increasingly come under stress particularly through weakly supervised nonbank and offshore financial sectors with knock-on effects to domestic banks. The staff report focuses on ECCU’s 2009 discussion on common policies...

Over the last decade, the Eastern Caribbean Currency Union (ECCU) macroeconomic performance has deteriorated relative to the rest of the Caribbean. Tourism accounts for three-fifths of exports, and the import content of consumption and investment is high. The ECCB-operated quasi-currency board...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This paper evaluates Turkey’s Second Review Under the Stand-By Arrangement (SBA). Since the completion of the Article IV Consultation and the first review in April 2002, macroeconomic policies have remained in line with the program. All quantitative performance criteria for end-March and...

This 2001 Article IV Consultation highlights that the Republic of Palau faces a number of development challenges. Substantial improvements in human and physical infrastructure are needed to sustain higher growth rates. About 80 percent of the land area is on the Babeldaob Island, which is...

The downturn has accentuated strains on the financial system of Anguilla. The 2011 Article IV Consultation highlights that the growth outlook is improving with major tourism projects getting back on course, although a slow recovery is only expected to begin in 2012. Executive Directors have...

This 2012 Article IV Consultation reports that the United Kingdom's economic recovery has been sluggish, as the needed hand-off from public to private demand-led growth has not fully materialized. Economic activity is projected to gain modest momentum in future, but the pace of expansion is...

Strengthened macroeconomic and structural policies, underpinned by improved monetary and fiscal policy frameworks, have contributed to the United Kingdom's achievements. Executive Directors commended these developments, and supported the focus of policies to encourage innovation and...

This 2002 Article IV Consultation highlights that the real GDP of the United Kingdom increased at an average rate of some 2.8 percent, and the unemployment rate halved to below 5 percent by April 2001. Inflation, which has been low since the mid-1990s, was—on a harmonized basis—about 1.5...