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...

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...

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...

Colombia’s economy has been resilient to the adverse global shocks of recent years. Inflation has been subdued, credit growth has eased, and financial soundness indicators are strong. The strong balance of payments continues to put upward pressure on the Colombian peso. In 2013, growth is...

This paper discusses the Islamic Republic of Mauritania’s Sixth Review under the Three-Year Extended Credit Facility Arrangement and Request of Nonobservance of Performance Criterion. Mauritania’s current account deficit has been significantly widened due to higher infrastructure...

This paper focuses on Uganda’s 2013 Article IV Consultation and Sixth Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and cancellation of Current Policy Support Instrument. Driven mainly by investment and trade, growth has recovered to about...

This paper discusses Guinea’s Second Review Under the Three-Year Arrangement under the Extended Credit Facility, Requests for Modifications of Performance Criteria and Waiver of Nonobservance of Performance Criterion, and Financing Assurances. Growth is projected at 4.5 percent for 2013,...

Qatar's economy is driven by high oil and natural gas prices and production, and remains strong with robust nonhydrocarbon growth. Its government has now shifted its focus to economic diversification and growth in nonhydrocarbon sectors through targeted infrastructure investments. The Executive...

This paper analyzes Burundi’s Third Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Policy discussions in the program focus on measures to strengthen fiscal performance, which have been reflected in a revised 2013 budget,...