Ireland's recovery has strengthened yet political challenges to adjustment appear to have increased. The recovery is led by job creation and investment financed by retained earnings rather than lending. But uncertainties around medium-term prospects are wide given external risks and domestic...

The economic and financial pressures facing Ireland are intense. The banking sector is at the fulcrum of Ireland’s problems. The program, therefore, aims to restore the banking system. It will address structural problems and restore confidence. A leaner and more robust banking sector is the...

Mexico’s strong policy framework has helped cushion the impact of the global crisis. The staff report highlights Mexico’s review under the Flexible Credit Line Arrangement. The flexible exchange rate has adjusted, the inflation targeting framework has provided an anchor for expectations, and...

This paper examines Turkey’s Request for a Stand-By Arrangement (SBA). The program contains several measures to free up the growth potential of Turkey’s private sector. The program rightly addresses key obstacles to domestic and foreign private investment. Although the program faces real...

KEY ISSUES Recent Developments. After four years of consecutive growth, the unprecedented floods that hit Honiara in early April 2014 have undermined economic activity. The flash floods caused loss of life and widespread damage to key infrastructure, water and sanitation systems, housing, and...