Prospects for the future remain favorable, provided that policy actions are taken to address the risks and challenges that China faces. The government recognizes the need to contain investment and credit growth, and has tightened the monetary policy in response. Greater exchange rate flexibility...

The strategy adopted by Benin to strengthen its macroeconomic stability and promote private-investment-led growth has been detailed in the note. The statistical data on gross domestic product by sector of origin at current prices and at constant supply, production and producer prices of cotton,...

This paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility for Armenia. Armenia’s economy performs strongly. All end-December 2006 quantitative and all but one structural performance criteria were observed. The main policy challenges are to...

Myanmar is a low-income country, and with the right reforms, it can realize its rich economic potential. The government has embarked on a bold and historic set of reforms, which are already bearing fruit. Executive Directors support the steps for ensuring macroeconomic stability. Exchange rate...

The staff report for the 2006 Article IV Consultation on Botswana highlights economic developments and monetary and exchange rate policy. Botswana’s growth has been fueled by continued increases in diamond production; and real diamond output is projected to level off, and then decline...

This Selected Issues paper analyzes the impact of Mexico’s energy reform on hydrocarbons production. These reforms aim to increase oil and gas production by eliminating the state oil company’s (PEMEX) monopoly on exploration and production of hydrocarbons, while retaining the prime...

Suriname’s 2005 Article IV Consultation reports that economic activity has strengthened reflecting increased mining output and investment. The principal short-term challenge for Suriname is to maintain disciplined fiscal and monetary policies, especially to contain the inflation impact of...

This Annual Progress Report (APR) reviews the Poverty Reduction Strategy Paper for Lao People’s Democratic Republic (PDR). Noticeable improvements have also occurred in many economic, social, institutional, and legal development areas. While strengthening the management of the public...

The Selected Issues paper on Jordan analyzes the Jordanian dinar, which has historically operated within a fixed exchange rate regime. The deterioration in 2004 and 2005 reflected an exceptionally rapid increase in imports, as the saving-investment balance shifted. Following an improvement in...