With increasing frequency, the IMF has assisted middle-income countries, especially emerging economies, in adopting the types of budget reforms that have been introduced in many Organization for Economic Cooperation and Development (OECD) countries - reforms that emphasize performance and...

The public sector in Peru is clearly distinguished from the rest of the economy, but the existence of various legal and statistical definitions of the government makes it difficult to demarcate it clearly from the rest of the public sector. The recent constitutional reform has strengthened the...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) for Georgia. All quantitative performance criteria (PCs) for end-December 2004 were met, but the indicative target on reserve money growth was exceeded, mainly because of large...

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 paper describes the developments in the Australian labor market during the 1990s. In 1994, a number of new labor market programs were launched, directed especially at the long-term unemployed, and a further step was taken in the evolutionary reform of the industrial relations system. The...

This paper examines Armenia’s 2004 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria. Armenia’s strong economic performance has been continuing in 2004. In January–September, the...

The First Review Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Performance Criteria for Senegal are discussed. Economic activity in the first half of 2003 has been weaker than envisaged under the program. The impact of softer domestic demand, reflecting mainly the...

The staff report for the Request for Stand-By Arrangement on Gabon highlights economic developments and policies. A higher-than-anticipated rise in oil GDP more than offset lower-than-expected growth of non-oil GDP. Overall fiscal performance was strong, as the non-oil primary deficit was...

The government of Nicaragua has worked toward adopting the necessary economic measures to put the country’s economy on the course of fiscal sustainability and those that guarantee transparent and austere management, not affecting the most vulnerable population. The government has managed...

This paper reviews the request from the São Tomé and Príncipe authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). In 2004, the economy continued to grow at a moderate pace, but inflation increased to 15 percent by year-end, as bank credit to the...