Barbados has a stable political system, and there is long-standing public consensus on key economic policies, including a fixed exchange rate with the U.S. dollar supported by prudent fiscal and wage policies. Owing to job creation mainly in the private sector, particularly construction, the...

This paper discusses Niger's Second and Third Reviews Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria and for Extension of the Program Period and Arrangement. Fiscal performance was broadly in line with program targets. The...

This paper focuses on the Poverty Reduction Strategy Paper—National Strategy for Development and Integration (PRSP–NSDI) for Albania. The paper provides an overview of the key challenges facing the country. It presents a brief statement of the national vision, identifies the strategic...

A very ambitious fiscal adjustment effort is under way. Fiscal institutional and sectoral reforms have been elaborated for a more durable adjustment. Greece’s determination toward a comprehensive modernization of the health sector, beginning with a far-reaching reform of state enterprises and...

The post-conflict economic stabilization in Liberia is now complete. Inflation pressure is easing owing to lower fuel and food prices, and there is a rebound in exports. Sound macroeconomic policies, strengthened institutions, and debt relief have stabilized the economy and have supported...

Program implementation is satisfactory and economic activity is recovering in Mauritania. The budget preserves fiscal discipline and protects infrastructures and social spending. Greater flexibility in the exchange rate and an enhanced monetary policy framework will help build reserves. The...

Greece has made a strong start with the program, but challenges also remain evident. The economic response to the program has yet to play out fully. Inflation is too high. Fiscal developments are encouraging, but risks need to be addressed. A strong pension reform is essential to bolster fiscal...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Niger. Program implementation to date is satisfactory and all quantitative performance criteria at end-June 2009 were met. The revenue performance is strong and domestic arrears repayment higher...

This paper discusses key findings of the Ex Post Assessment (EPA) of Longer-Term Program Engagement paper for Kenya. This EPA focuses on 1993–2007, when Kenya was engaged in four successive IMF arrangements. Macroeconomic policy design was broadly appropriate, and implementation was generally...