This paper presents key findings of debt sustainability analysis (DSA) for Ethiopia. The stress tests reveal that Ethiopia’s external debt and debt service indicators are particularly sensitive to the terms of new borrowing and negative export shocks. The baseline projections appear...

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...

This 2003 Article IV Consultation highlights that economic growth in the Republic of Slovenia slowed during 2001–02 to about 3 percent, owing to a weak external environment and subdued domestic demand. Export growth slowed as demand from the European Union weakened, but the impact was...

This 2004 Article IV Consultation highlights that economic developments in the Union of the Comoros during 2003 were adversely affected by the difficult relationship between the Union and island governments. The related disputes regarding competencies and resources prevented the design and...

This paper assesses Serbia and Montenegro’s First Review Under the Extended Arrangement (EA). Serbia and Montenegro’s economic and policy performance has remained good under the current EA, but daunting challenges lie ahead. Macroeconomic policies need to be carefully calibrated to...

This Ex Post Assessment of Longer-Term Program Engagement for the Kyrgyz Republic explains macroeconomic and structural performance. External debt service claimed a steadily increasing share of fiscal revenues, but a strengthened commitment to prudent fiscal policies and improved policy capacity...

This paper discusses Serbia and Montenegro’s Sixth Review Under the Extended Arrangement, Financing Assurances Review, Request for Waivers of Nonobservance of Performance Criteria, and Proposed Post-Program Monitoring. Program implementation since the fifth review has been mixed, delaying...

The staff report for the combined consultation and 2005 Article IV Consultation on Gabon highlights economic developments and policies. Preparing Gabon for the post-oil era requires strengthening the efficiency of the public sector and providing a framework for private sector development to...

Niger’s First Review Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Nonobservance of Performance Criteria and Augmentation of Access are discussed. The sharp rise in food prices pushed up inflation in 2005, while the food shortage affected one-fourth of 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...