This paper discusses key findings of the Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Tanzania. Economic growth, inflation, and the external position have evolved in a manner consistent with program objectives, and the program has...

This 2006 Article IV Consultation highlights that real GDP in the Federated States of Micronesia grew by only 1½ percent in FY2005 and declined by nearly 1 percent in FY2006. The underlying fiscal situation has deteriorated, despite a decline in the overall deficit. Executive Directors have...

After several years of robust growth, real GDP growth slowed to 2.9 percent in 2008 owing to a decline in mining output. The nonmining primary deficit (NMPD) amounted to 28.6 percent of nonmining GDP in 2008/09, well above the 16.8 percent NMPD in 2007/08. Botswana continues to peg the pula to a...

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...

The staff report for the 2007 Article IV Consultation highlights the Russian Federation’s long-term perspective, economic developments, and macroeconomic policies. Russia’s economic growth remains robust. High oil prices and sound fiscal policy underlie Russia’s long spell...

Despite abundant natural resources and arable land, Guinea-Bissau is ranked at the lowest end of the UN human development index, mainly because of the civil war of 1998–99 and the ensuing prolonged political instability and serious governance deficiencies thereafter. Since mid-2004,...

This 2006 Article IV Consultation highlights that economic performance of the Czech Republic strengthened during 2005–06, supported by the expanding capacity of the export-oriented automotive sector and a cyclical recovery in the European Union. The momentum of growth has been underpinned...