This paper examines Colombia’s 2002 Article IV Consultation and Request for Stand-By Arrangement. The economic situation worsened in the first half of 2002. Economic activity has remained sluggish, and the fiscal consolidation has gone off-track. Exacerbated by increased contagion from...

The government’s strong monetary and fiscal policy framework, as well as the structural reforms introduced, have enabled the Canadian economy to respond flexibly to recent shocks and laid a solid foundation for recovery. Macroeconomic policies should remain supportive, with fiscal policy...

Increasing integration to the East has benefited the Austrian economy, but also created vulnerabilities that came to a head with the global financial crisis. The crisis has highlighted old challenges and created new ones that need to be addressed. The banking sector’s return to more...

This 2007 Article IV Consultation highlights that the economy of St. Vincent and the Grenadines is enjoying its second year of vigorous economic growth. Financial sector indicators have strengthened, but balance sheet vulnerabilities remain. Executive Directors have welcomed St. Vincent and the...

This 2007 Article IV Consultation highlights that the Norwegian economy is set to grow strongly in 2007 for the fourth consecutive year. This economic performance is underpinned by strong monetary and fiscal policy frameworks. External demand, both for petroleum products and other Norwegian...

Austria has relatively strong macroeconomic fundamentals, but also deep ties with the rest of the euro area. The legacy of an overly ambitious eastward financial sector expansion has created substantial challenges to its policymakers. Policies have been designed to preserve market confidence,...

Luxembourg’s 2006 Article IV Consultation reports that the dominant financial sector has supported a steady rebound in economic activity. Growth is projected to remain healthy in the near term, but trend growth may decline as the rapid financial sector expansion may decelerate. The...

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...