This paper discusses Bosnia and Herzegovina’s Third Review Under the Stand-By Arrangement and Request for Waiver of Applicability of a Performance Criterion. Financial sector indicators through end-March 2013 suggest that the banking system remains profitable and adequately capitalized at...

This Selected Issues paper analyzes the fiscal strength of the economy of the Czech Republic. Fiscal policy in the Czech Republic has shown a procyclical bias temporarily interrupted during the crisis years. The large stimulus implemented has been more than compensated by a frontloaded...

This 2013 Article IV Consultation highlights that the Czech economy, despite its strong fundamentals, is in the midst of a prolonged recession because of the euro area slump and weak domestic demand. A further slowdown in the euro area would exacerbate the situation, creating the risk of lower...

The analysis and created statistical models of energy consumption tendencies in the European Union (EU25), including new countries in transition, are presented. The EU15 market economy countries and countries in transition are classified into six clusters by relative indicators of Gross Domestic...

The analysis and created statistical models of energy consumption tendencies in the European Union (EU25), including new countries in transition, are presented. The EU15 market economy countries and countries in transition are classified into six clusters by relative indicators of Gross Domestic...

The short-term objectives are being met, but medium-term targets and sustainability have to be worked on. The impressive fiscal adjustment evident since the crisis erupted is continuing. The Executive Directors commend the Greek government’s determination to focus on overdue spending...

This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated sharply in early 2013. First quarter GDP growth rose to 4.1 percent (seasonally adjusted annual rate) after two quarters of stagnation. Rising equity values stimulated consumption,...

This paper discusses Burkina Faso’s ex-post assessment of longer-term program engagement. Economic growth has fluctuated above regional standards, averaging 5.3 percent between 2007 and 2012. The improvements in the agricultural sector, as a result of authorities’ strong push for...