How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...

The Solomon Islands’s 2005 Article IV Consultation reports that the improvement in the economic performance registered after the arrival of the Australian-led intervention force in mid-2003 has continued. The projected deterioration in the external current account reflects...

This paper highlights Mozambique’s 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Modification of Performance Criteria. The performance under the program...

The staff report for the First Review Under the Stand-By Arrangement on the Republic of Croatia focuses on fiscal policy and monetary and financial sector policies. Financial soundness indicators show a continuation of the overall strengthening of the banking system, although foreign...

This Selected Issues and Statistical Appendix paper analyzes recent economic developments in Guinea-Bissau. The paper highlights the structural problems that will need to be addressed over the next few years if Guinea-Bissau is to break through the downward spiral of declining economic activity,...

The staff report for the 2005 Article IV Consultation for Cape Verde focuses on economic developments and fiscal policy. The fiscal deficit was lower than expected, and reserve accumulation exceeded the programmed level. Cape Verde appears well positioned to attract increasing external support,...

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 paper reviews Albania’s 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), Request for Extension of the Arrangement, and Financing Assurances Review. The macroeconomic performance of the Albanian economy has been remarkable by both...

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,...