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 examines Colombia’s 2002 Article IV Consultation and Request for Stand-By Arrangement. The economic situation worsened in the first half of 2002. Economic activity has remained sluggish, and the fiscal consolidation has gone off-track. Exacerbated by increased contagion from...

The Kingdom of Lesotho’s 2005 Article IV Consultation reports that the government’s fiscal position and the external current account have improved markedly. The authorities are preparing an action plan, in collaboration with development partners, to improve the business climate....

Madagascar showed strong economic growth and low inflation under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors commended these developments, and stressed the need to restore fiscal discipline, improve governance, strengthen the business climate to encourage...

This 2004 Article IV Consultation of Rwanda reports that although the recovery in primary activities has been relatively rapid, formal sector activity registered a mixed performance. The expansion of government programs in health, education, water and energy, would widen the structural deficit...

This paper evaluates Tajikistan’s 2002 Article IV Consultation and a Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Tajikistan’s previous IMF-supported program went off track in mid-2001 largely because of poor progress with structural...

Nigeria’s 2005 Article IV Consultation reports that the authorities made good progress in implementing their structural reform program. Given favorable terms of trade, gross international reserves are projected to increase substantially. The economy is expected to benefit from improved...

This paper examines Honduras’s 2005 Article IV Consultation and Second Review Under the Poverty Reduction and Growth Facility. In the period 1960–2000, output growth in Honduras ranked among the lowest in the region. During the 1990s, when growth recovered in the rest of Central...

The government has fully complied with all the elements of the fourth floating completion point condition, which calls for the implementation of reforms to develop human capital and social protection. Investment in human capital development represents the second pillar of Nicaragua’s...

Zambia’s 2005 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility are discussed. Expenditure restraint, including on the wage bill, has helped to put the fiscal operations of the government on a sustainable course and contributed to the attainment of...