This paper discusses the 2006 Article IV Consultation for Moldova and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility. The economic growth of Moldova has continued to be robust, although the drivers of growth—household consumption and...

Vietnam's macroeconomic performance has been strong, fueled by strong export performance, poverty reduction, and domestic investment. Executive Directors welcomed this development, and stressed the need for strong monetary, exchange rate, and fiscal policies. They appreciated the prudent...

This paper examines the Kyrgyz Republic’s 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and a Request for Waiver of Performance Criterion. All performance criteria but one were observed for the period under review (April 1,...

The First Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility of the Republic of Moldova analyzes macroeconomic and structural policy measures to support the adjustment and promote growth. Moldova is facing serious external shocks that will have long-lasting...

This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...

Many empirical studies of banking crises have employed "banking crisis" (BC) indicators constructedusing primarily information on government actions undertaken in response to bank distress. Weformulate a simple theoretical model of a banking industry which we use to identify and...

Albania’s macroeconomic performance over the past year has been good, with strong growth and a significant reduction in poverty under the Poverty Reduction and Growth Facility Arrangement. Executive Directors commended the new strategy for maintaining the macroeconomic stability,...