India’s economy has slowed substantially before and after the global financial crisis. The economy is in a weaker position than before the crisis. With investment particularly hard-hit, potential GDP is likely to be lower than estimated. Inflation is constraining the room for monetary...

This 2013 Article IV Consultation highlights that Côte d’Ivoire is recovering from a long period of economic stagnation and political conflict that culminated in the post-election crisis of end-2010 and early 2011. The conflict caused real per capita income to fall by more than 40 percent...

Ireland’s strong policy implementation and market conditions have improved macroeconomic indicators to show positive signs. However, an uncertain medium-term outlook could hamper the prospects. Bank supported recovery through timely action on lingering financial sector issues has been...

During the past three decades, Jamaica has shown low economic growth and high public debt, and has faced other social challenges. To help restore competitiveness and improve financial market conditions, the authorities have come up with a comprehensive four-year economic program—2013/14...

This paper discusses 2013 Article IV Consultation highlights slower economic performance and financial risks in Botswana. The output growth is expected to remain broadly unchanged in 2013 as strong nonmining sector growth would offset the subdued mining output. Banks’ high exposure to...

Morocco’s sound economic performance has been challenged by domestic and external shocks. The Precautionary and Liquidity Line (PLL) program is on track, and its design remains adequate. The fiscal consolidation and efforts to rebuild buffers and address medium-term challenges taken up by...

This paper discusses Romania’s Request for a Stand-By Arrangement (SBA). Since the 2008 global financial crisis, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers. However, Romania remains vulnerable to external shocks,...

This 2013 Article IV Consultation highlights that Sudan’s economic performance in 2012 was unfavorable despite the introduction in June 2012 of a package of reforms. Non-oil real GDP growth slowed to 4.6 percent, inflation rose to 44.4 percent by the end of the year, and the gap between...

This 2013 Article IV Consultation highlights that recent macroeconomic developments in The Federal Democratic Republic of Ethiopia are encouraging, with a significant deceleration in inflation and continued robust economic growth. Despite significant decline in coffee prices and supply...

This 2013 Article IV Consultation highlights that key developments in Guatemala since the 2012 Article IV Consultation have been positive. As commodity prices stabilized and domestic demand pressures weakened, inflation fell sharply in 2012—closing at 3.4 percent by December. Although...