This paper reviews Albania’s 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), Request for Extension of the Arrangement, and Financing Assurances Review. The macroeconomic performance of the Albanian economy has been remarkable by both...

Portugal achieved progress in containing the fiscal deficit, strengthening financial sector resilience, and structural reforms. Executive Directors commended the efforts to contain the fiscal deficit in line with the requirements of the Stability and Growth Pact. They encouraged the authorities...

This report reviews developments in Benin during 2003 in the context of the Sixth and Final Review Under the Poverty Reduction and Growth Facility (PRGF) arrangement. The report sets forth the policies and measures the government intends to implement during 2004 in the context of its poverty...

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...

This Selected Issues paper and Statistical Appendix surveys the main reasons for Papua New Guinea’s disappointing economic performance, highlighting the key impediments to growth in each of the main sectors of the economy. The paper outlines the structural reforms that could help reduce...

The staff report for the Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility highlights Benin’s economic developments and progress in structural reforms. Benin experienced a decade of good economic performance, but poverty reduction remains a concern....

This 2002 Article IV Consultation highlights that real GDP for St. Vincent and the Grenadines grew by a modest ¼ percent in 2001, well below the 4 percent average for the previous three years. Preliminary estimates for 2002 indicate about a pickup in real GDP growth to about 1 percent owing...

This paper on the First Review Under the Staff-Monitored Program (SMP) on Djibouti explains macroeconomic framework and policies. The policy discussions centered on the need to sustain the improvement in the country’s fiscal position in the remainder of the year and steadfast structural...

This 2005 Article IV Consultation highlights that recent accession to the European Union and gains in growth performance reinforced the Czech Republic’s position as one of the most open and developed economies among the new member states. Thanks to substantial foreign direct investment,...