In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Pakistan showed good macroeconomic performance over the past years. Executive Directors welcomed the program, which aimed at strengthening the balance-of-payments position, rebuilding official reserves, and reducing public sector indebtedness. They emphasized the need for revenue mobilization,...

The Japanese economy is vulnerable to external and domestic shocks. The new government has made a commitment to turn the fiscal situation around. The new policy framework provides the Bank of Japan with the scope to ease the policy stance. A deteriorating macroeconomic environment has exposed...

Finland's performance has been impressive. In light of rapid population aging, a significant and durable increase in the employment rate is vital. To leave room for needed tax cuts on labor while maintaining sufficiently large fiscal surpluses is crucial. With both growth and inflation set to...

Morocco has been able to establish macroeconomic stability and industrial country levels of inflation, despite adverse weather conditions and terms-of-trade developments. Executive Directors welcomed these developments, and stressed the need to reduce unemployment and poverty. They appreciated...

The German economy has been experiencing as many setbacks as achievements. Continued wage moderation will be essential to aid recovery. Macroeconomic policies are limited by euro area constraints and the sizable public debt burden. Expenditure restraint is the cornerstone of the fiscal...

The buoyant economic record is attributable to a favorable external environment; supportive monetary conditions; protracted wage moderation; gradual labor market reforms; and sizable cuts in tax rates and social security contributions. The government reasserted its intention to achieve fiscal...

The Mexican economy has performed well since the last Article IV Consultation. Executive Directors commended the authorities for maintaining prudent fiscal and monetary policies in the face of financial turbulence in emerging markets and the slowdown in the United States. They appreciated the...

Faced with a tight liquidity situation at the treasury, the government of Senegal has implemented a tight spending regime to avoid a substantial drawing on the statutory advances at the Central Bank of West African States (BCEAO). Weaknesses in accounting for public funds, as well as the delays...

Mozambique showed commendable economic performance owing to its strong policy implementation, under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors welcomed this development, and stressed the need for macroeconomic stability, tightening of fiscal and monetary...