This 2004 Article IV Consultation highlights that Papua New Guinea’s macroeconomic performance has improved from mid-2003, helped importantly by the favorable temporary factors that boosted the mineral and agricultural sectors. In 2003, real GDP is estimated to have grown by 2.7 percent,...

Algeria’s 2004 Article IV Consultation reports that the fiscal expansion has contributed to job creation, but unemployment remains high. The vulnerability of public finances to oil price fluctuations has increased and monetary policy has helped to keep inflation under control. Sound...

This 2005 Article IV Consultation highlights that real GDP growth in Grenada, on average, has been low over the last five years compared with growth of nearly 6 percent a year in the late-1990s. Inflation has remained low and stable within the framework of the currency board arrangement. The...

This paper discusses key findings of the Sixth Review Under the Extended Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Albania. The macroeconomic performance of the Albanian economy has been good overall, with sustained growth and low inflation. Weak infrastructure and...

This 2004 Article IV Consultation highlights that the three-year Poverty Reduction and Growth Facility arrangement for Vietnam expired in April 2004. During the arrangement, Vietnam maintained strong economic growth and low inflation, and achieved further poverty reduction, supported by...

This 2004 Article IV Consultation highlights that tighter fiscal and monetary policies in Suriname helped stabilize the exchange rate and moderate inflation pressures in 2003 and 2004. The fiscal deficit narrowed from 6.5 percent of GDP in 2002 to near balance in 2003, while a tighter monetary...

This paper discusses Cape Verde’s Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Economic performance in 2003 was better than programmed in many respects: real GDP growth was higher,...

This 2004 Article IV Consultation highlights that in 2003, Guinea’s economic situation deteriorated on account of exogenous conditions, as well as poor macroeconomic management and the lack of progress in key structural areas. Annual real GDP growth slowed down from 4.2 percent in 2002 to...

This 2004 Article IV Consultation highlights that macroeconomic developments in Belarus in 2003 were mixed. Although in real terms GDP, industrial production, and agriculture all grew by 6.8 percent; according to official data prepared on Belarusian national methodology growth, would be lower on...

Portugal achieved progress in containing the fiscal deficit, strengthening financial sector resilience, and structural reforms. Executive Directors commended the efforts to contain the fiscal deficit in line with the requirements of the Stability and Growth Pact. They encouraged the authorities...