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 reform of fiscal policies and institutions lies at the heart of structural adjustment in developing countries. Although the immediate aim of such reform is to reduce fiscal imbalances to achieve macroeconomic stability, the long-term goal is to secure more durable improvements in fiscal...

This paper describes economic developments in St. Vincent and the Grenadines during the 1990s. Between 1990 and 1995, real GDP growth (at factor costs) averaged 4 percent per year, but varied widely from year to year, largely reflecting developments in the banana industry, St. Vincent’s...

This paper discusses Mozambique’s Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Modification of Performance Criteria. Performance under the program has been broadly satisfactory so far in 2005. All quantitative and...

Performance under the program has been satisfactory. Real GDP growth is higher than estimated owing to substantially higher than projected agricultural production. Burkina Faso continues to depend heavily on external assistance and on cotton exports, and is highly vulnerable to terms-of-trade...

Tanzania showed strong economic growth owing to its sound macroeconomic policies and structural reforms, under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors commended this step, and emphasized for higher revenue mobilization through reforms of tax...

The staff report for the Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility on Georgia focuses on economic developments and policies. The fiscal situation deteriorated sharply in 2003, especially because of a weakening in expenditure management and in tax...

Following satisfactory economic and financial performance under the Poverty Reduction and Growth Facility-supported program, performance was mixed. Benin should pursue a prudent debt-management policy with the support of the newly created debt committee. Implementation of the structural reform...

This paper assesses Benin’s Fourth Review Under The Poverty Reduction and Growth Facility (PRGF). Macroeconomic performance remained broadly in line with the objectives of the PRGF-supported program in 2002. All performance criteria for end-September 2002 were met, and the four structural...