This 2005 Article IV Consultation highlights that recent accession to the European Union and gains in growth performance reinforced the Czech Republic’s position as one of the most open and developed economies among the new member states. Thanks to substantial foreign direct investment,...

This paper focuses on Pakistan’s 2004 Article IV Consultation, Ninth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Request for Waiver of Performance Criteria (PCs). Implementation of the PRGF program in Pakistan remains broadly on...

This 2002 Article IV Consultation highlights that the real GDP of the United Kingdom increased at an average rate of some 2.8 percent, and the unemployment rate halved to below 5 percent by April 2001. Inflation, which has been low since the mid-1990s, was—on a harmonized...

This paper discusses Mali’s 2005 Article IV Consultation and Second and Third Reviews Under the Poverty Reduction and Growth Facility (PRGF). The PRGF-supported program is broadly on track. Performance on quantitative aspects remains strong. Although the record on the structural program...

This paper examines Croatia’s 2004 Article IV Consultation and Request for Stand-By Arrangement (SBA). Croatia has established a record of solid growth and low inflation since the mid-1990s. Real GDP growth has averaged about 4.5 percent, with inflation in the low single digits. This...

This 2004 Article IV Consultation highlights that impressive growth continued unabated in Lithuania in 2004. GDP expanded by an estimated 6¾ percent in 2004, driven by vigorous private consumption and investment growth. The unemployment rate declined to 10½ percent of the labor force but...

Fiscal problems have long been considered a central feature of financial--that is, currency, debt, and banking--crises. This paper addresses four questions: What are the fiscal causes of crises? Which fiscal vulnerability indicators help to predict crises? Can fiscal variables explain the...

This paper reviews Congo’s Performance Under the Staff-Monitored Program (SMP) and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Improvements in the political environment and an increased focus on economic management since late 2002 have already led...

This paper discusses Uganda’s Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Request for a Policy Support Instrument (PSI). Performance relative to the sixth and final PRGF review was...

The staff report for the 2004 Article IV Consultation on Denmark focuses on economic developments and policies. Labor market reforms led to a sustained increase in structural employment, while careful fiscal policy in the context of a clear medium-term sustainability strategy delivered budget...