The staff report for the Fourth and Fifth Reviews Under the Stand-By Arrangement and Request for Waiver of Applicability discusses Peru’s economic performance. Peru’s financial markets have only been marginally affected by recent developments in emerging markets. Although further...

This 2005 Article IV Consultation highlights that Palau’s economic growth has picked up in recent years while inflation has been low. After several years of slow growth, real GDP grew by 5 percent in FY2004 and FY2005, driven by a steady increase in visitor arrivals with the start of new...

Italy’s 2008 Article IV Consultation describes the country's economic developments and policies. Output has been projected to contract by about ½ percent in 2008 and 1 percent in 2009, with risks tilted to the downside, linked to a further slowing of global growth and falling consumer...

Recent economic development and outlook of Lao are discussed in this study. However, the economy continued to exceed its macroeconomic speed limit in 2009, putting pressure on the balance of payments. The outlook for GDP growth in 2010 is favorable and inflation is likely to remain moderate....

With the recovery from the 2002 crisis well advanced, discussions focused on policies to reduce remaining vulnerabilities and sustain growth. Sensitivity analysis suggests that the economy, while having become more resilient in recent years, is still vulnerable. The authorities agreed to...

Ethiopia pursues a public sector-led growth strategy that focuses on promoting growth through high public investment supported partly by low nominal interest rates. While the strategy has contributed to robust economic growth in the past, recent developments indicate a buildup of vulnerabilities...

The Sixth Review Under the Extended Arrangement with Ireland highlights that Ireland’s policy implementation has continued to be steadfast. Ownership of the program remains strong despite the considerable challenges the country is facing. Ireland’s progress in strengthening the...

The major risk factors faced by the Isle of Man (IOM), which have been given prominence by the global financial crisis, relate to large exposures toward parent banks. The recent global financial markets turmoil has had a significant impact on the Manx financial system. The paper also presents a...

The primary objective of the program was to prevent a crisis of confidence by signaling policy continuity and providing a liquidity buffer in case such shocks materialized. In addition, the program sought to preserve macroeconomic stability by focusing on sustaining fiscal prudence and financial...

Peru’s macroeconomic policies continue to be strong under the Stand-By Arrangement (SBA). Executive Directors appreciated the implementation of policies to entrench macroeconomic stability, lower poverty, and lessen vulnerabilities, and also emphasized the need to maintain a prudent...