This 2015 Article IV Consultation highlights that Myanmar's economic growth remains strong, but macroeconomic imbalances have increased significantly over the past year. Real GDP growth for FY2014/15 (April-March) is estimated to have reached 8.5 percent. The fiscal deficit increased to 3...

This 2015 Article IV Consultation highlights that Israel's economy has been doing well and near-term growth prospects are favorable. Following growth of 2.6 percent in 2014, the economy is expected to expand by about 2.5 percent in 2015 and 3-3.3 percent each year in the medium term. Employment...

This Selected Issues paper examines labor productivity in Israel. Israel's GDP per capita is low relative to the United States despite high labor input, as labor productivity is low. Catch-up of labor productivity to the United States stopped in the 1980s and relative labor productivity has...

This 2015 Article IV Consultation highlights that Congo's growth was strong in 2014 and inflation was moderated, but the country has been hit hard by the oil price shock. Growth rose to 6.8 percent in 2014, driven by a rebound in oil production. The fiscal deficit amounted to 8.5 percent of GDP...

The Executive Board approved on February 2, 2015 a 12-month Stand-By Arrangement (SBA) and an arrangement under the Standby Credit Facility (SCF), with combined access of SDR 488.52 million (180 percent of quota). The first tranche of SDR 379.96 million (140 percent of quota) was made available...

Peru stands out among Latin American countries as an example of successful economic reforms over the past decade. This comprehensive look at Peru's economy traces that country's journey from a debt crisis in the 1980s to having buffers in place that allowed it to emerge unscathed from the global...

This paper discusses Armenia’s Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing. Since late 2014, Armenia’s economic performance has been affected by significantly weaker external conditions, as the slowdown of the Russian economy, the...

This 2015 Article IV Consultation highlights that Finland’s exports have suffered owing to the declines of Nokia and the paper industry, compounded by weak external demand, especially from the euro area and Russia. The current account and fiscal balances have deteriorated, with the 2014 fiscal...

This paper discusses Uganda’s Fifth Review Under the Policy Support Instrument (PSI) and Request for Waiver of an Assessment Criterion and Modification of Assessment Criteria. The economy of Uganda has fared well in a difficult environment. Program performance under the PSI was generally...

This Selected Issues paper analyzes structural shocks, productivity, and growth in Finland. Finland has gone from being a top-performing advanced economy to a growth laggard since 2007. The rapid decline of the (previously) high productivity information and communications technology sector in...