St. Lucia showed strong growth performance owing to its strong investment in tourism infrastructure. Executive Directors commended the prudent public debt management and sound banking system. They underscored the need for fiscal consolidation and steps to promote domestic investment and labor...

The staff report for the Request for a Three-Year Policy Support Instrument (PSI) on Senegal explains economic developments. Allocations for priority spending suffered, and cash-flow problems resulted in payment delays to the private sector. The authorities intend to tackle key policy challenges...

The staff report highlights that the economy of Kiribati showed resilience from the global crisis owing to infrastructure projects financed by foreign assistance. Executive Directors stressed the importance of preserving real per capita value of the Revenue Equalization Reserve Fund to ensure...

This paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility (PRGF) for the Democratic Republic of São Tomé and Príncipe. All quantitative performance criteria and structural benchmarks for end-December 2006 were met. Progress continues on structural...

In this study, Greece’s economic program has progress toward its sustainable growth by boosting competitiveness, strengthening financial sector stability, and securing sustainable public finances. The fiscal and broader reforms are to achieve the program’s medium-term objectives....

This 2009 Article IV Consultation highlights that the Chilean economy has proved resilient in the face of the global financial crisis. The policy response to the crisis has been sizable, well balanced, and coordinated. Executive Directors have commended the Chilean authorities for their sound...

Strong policy implementation under the Stand By-Arrangement (SBA) has contributed to Latvia’s economic recovery and put attainment of Maastricht criteria for euro adoption within reach. The government has continued to achieve substantial fiscal savings and strengthened its active labor...

This paper focuses on common policies for member countries of Central African Economic and Monetary Community (CEMAC). It highlights that the fiscal stance should be more cautious in some countries where policy buffers are insufficient to withstand shocks. The recent easing of monetary policy...

This paper discusses Senegal’s Sixth Review Under the Policy Support Instrument (PSI) and Request for Modification of an Assessment Criterion. GDP growth is on track to reach 4 percent in 2013 and is projected to increase to 4.6 percent in 2014. Inflation has been declining, following a...