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 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...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

A very ambitious fiscal adjustment effort is under way. Fiscal institutional and sectoral reforms have been elaborated for a more durable adjustment. Greece’s determination toward a comprehensive modernization of the health sector, beginning with a far-reaching reform of state enterprises...

This paper reviews the Central African Republic’s three-year arrangement under the poverty reduction and growth facility. Concerns about the social impact of higher fuel prices have delayed implementation of an automatic pricing formula and caused serious fiscal losses. The new financing...

This 2006 Article IV Consultation highlights that with generally prudent macroeconomic policies, Namibia has enjoyed robust growth, moderate inflation, and strong external surpluses. Growth is expected to increase to 4½ percent in 2006, after 4¼ percent in 2005, owing in part to a recovery...

The key findings of the Czech Republic’s 2010 Article IV Consultation are discussed. Large foreign direct investment inflows fostered trade integration, underpinning an export-led expansion. Higher initial standard of living contained consumption convergence pressures. An improved fiscal...

In 2011, the economy of Mali is expected to stay on a robust growth trajectory with low inflation. Fiscal performance has been consistent with program targets during the first half of 2011. Money supply increased more than GDP during the first nine months of 2011. The authorities intend to...

This 2011 Article IV Consultation reports that the Philippines is being affected along with other countries in the region by the fragile global environment. The key challenge is to navigate through the period of global uncertainty to maintain macroeconomic stability while building the...

The economy of Honduras contracted as a result of the global economic crisis. In the economic policy area, the authorities gave priority to strengthening the financial position of the public sector and restarting the external assistance. Measures are taken to strengthen the fiscal position, in...