This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the...

This paper discusses Guinea’s Request for Debt Relief Under the Catastrophe Containment (CC) Window of the Catastrophe Containment and Relief (CCR) Trust. Since early 2014, Guinea has been experiencing an ongoing Ebola epidemic that has spread to several countries in the region. The immediate...

This paper focuses on the increase in the external debt stock that reflects donor financing, including IMF and Bank lending to help Mongolia smooth its fiscal adjustment path after the major terms of trade shock. The fiscal deficit is expected to steadily decline until revenues from the Oyu...

Timor-Leste weathered the global financial crisis well and experienced healthy economic growth rates. It has made solid progress in strengthening the public financial management systems. The budget document provides comprehensive information; fiscal transparency is high. The Ministry of Finance...

The Burundian government has requested a modification of the zero limit on nonconcessional external debt in the country’s arrangement under the Extended Credit Facility (ECF). It has sought to increase the grant element of the financing for the hydroelectric plant. Executive Directors support...

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...

The staff report for the Post-Program Monitoring highlights economic developments, fiscal policy, and monetary policy. The primary risk to the near-term outlook for the Philippine economy is that the prevailing state of uncertainty proves to be protracted and sidelines economic reforms. Adverse...