This IMF staff report on Belize’s 2013 Article IV Consultation highlights economic developments and macroeconomic outlook. Macroeconomic developments in 2012 were underpinned by robust output growth but clouded by uncertainties surrounding the debt restructuring and growth prospects of...

Lesotho’s economic growth has weakened compared with the earlier forecast, owing to adverse exogenous shocks. In 2011/12, despite weather-related shocks (floods), robust growth was maintained. To address these shocks, the authorities have sought external assistance. Lesotho continued to...

Economic performance in the Democratic Republic of the Congo (DRC) has improved markedly. To safeguard the fiscal position, the government has to rigorously monitor budget execution and reduce nondiscretionary spending. The current monetary and floating exchange rate regime should be maintained....

The staff report for the fourth review under the three-year arrangement under the Extended Credit Facility, request for a waiver and modification of performance criteria, prepared by a staff team of the IMF, following discussions that ended on September 25, 2012, with the officials of Kenya on...

Bosnia and Herzegovina’s (BiH) challenge is to cope with the adverse economic environment and prepare the ground for achieving sustainable export-led economic growth, raising living standards, and making progress toward EU accession. In addition to fiscal consolidation, this will require...

Economic growth has been robust under favorable conditions in Gabon, but has not been inclusive enough, leaving one-third of its population in poverty. Building larger fiscal buffers, backed by a more prudent fiscal stance, will be critical to withstand possible negative oil price shocks....

Colombia’s very strong track record of macroeconomic policy management, underpinned by robust fiscal and monetary policy frameworks, has reduced vulnerabilities in recent years and helped weather the global financial crisis. The authorities’ policy focus has shifted from supporting...

The article is a review on Djibouti’s Extended Credit Facility (ECF) program and the performance of economic development in the program. The ECF program helped Djibouti to maintain macroeconomic stability, and the period underwent a transformation in the Djiboutian economy. The country...

This paper presents 2013 Article IV Consultation and Third Post Program Monitoring discussions on Hungry. While the output gap remains sizable, inflation expectations are not well anchored, and after seven consecutive policy rate cuts a pause seems prudent. Further monetary policy easing can be...