Vietnam's economic recovery from the spillover effects of the Asian crisis has continued and the pace of policy reform has stepped up. The government's program seeks to build on this record and policy momentum. A cautious fiscal stance will ensure a sustainable public debt burden. The...

Performance under the first year of Cambodia’s Poverty Reduction Growth Facility (PRGF)-supported program was strong, with a resumption of growth, low inflation, and significant progress in major areas of structural reform. External developments have reflected increased garment exports and...

Burkina Faso recorded a solid economic performance in 1996–99, with sustained real GDP growth in the 5–6 percent range, subdued inflation, an improved fiscal position, and progress in liberalizing the economy. Monetary policy is conducted at the regional level by the Central Bank of West...

Executive Directors commend the government for their achievements in macroeconomic stabilization. Continuing growth, low inflation, and stability in the foreign exchange market provide a solid foundation for the new program. Renewed effort to strengthen tax administration is required. Success in...

Faced with a tight liquidity situation at the treasury, the government of Senegal has implemented a tight spending regime to avoid a substantial drawing on the statutory advances at the Central Bank of West African States (BCEAO). Weaknesses in accounting for public funds, as well as the delays...

Mongolia has made great strides in fostering a market economy and promoting macroeconomic stability under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors welcomed this step, and stressed the need to improve economic governance, fiscal and monetary policies, and...

Mozambique showed commendable economic performance owing to its strong policy implementation, under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors welcomed this development, and stressed the need for macroeconomic stability, tightening of fiscal and monetary...

Niger has experienced a significant program interruption. Executive Directors supported the efforts to resume the economic and structural reform program interrupted, and restore budgetary transparency, improve governance, and accelerate structural reforms. They welcomed the efforts to resume...

Economic developments and policy implementation through mid-2001 were broadly consistent with the program. The authorities have started the participatory process that will underlie the full Poverty Reduction Strategy Paper. Civil service reform is critical to improve the delivery of public...

Despite the difficulties of Niger's circumstances, it showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) Arrangement. However, a weakening in program implementation and a reassessment of priorities of the program led to slippages. Executive Directors advised...