Despite the difficulties of Niger's circumstances, it showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) Arrangement. However, a weakening in program implementation and a reassessment of priorities of the program led to slippages. Executive Directors advised...

The federal government has made progress in reducing fiscal imbalances and improving public services. The authorities sharply reduced expenditures on goods and services and transfers, and improved management of the payroll generated a 5 percent reduction in the wage bill compared with 1999....

The Israeli economy has seen both rapid growth and price stability, and subsequently a very sharp deceleration. The design and execution of fiscal policy have improved markedly in recent years, but further progress is needed. It is also important to make further, steady progress with the...

Nigeria showed serious macroeconomic imbalances under the Stand-By Arrangement. Executive Directors observed that this had emerged as a result of the sharp increase in government spending, and expressed concern at the risks of a further acceleration of inflation and instability in the exchange...

Malta showed good economic performance in the past years, reflecting its strengthened policy, and a benign external environment. Executive Directors appreciated the fiscal consolidation and structural reforms, and noted that the country remained vulnerable to investment shocks and short-term...

Colombia's economic performance deteriorated markedly in the last half of 1998 and during 1999 under the combined influence of external shocks and a weakening of confidence. In an effort to reverse the deterioration, the authorities developed a multiyear stabilization and reform program based on...

Output and employment growth have been sluggish for the past several years, reflecting a difficult restructuring process associated with the retrenchment of the banana industry and the low productivity of public investment. The public finances have deteriorated in recent years as capital...

The Republic of Congo has seen dramatic improvement in its debt situation since 2010, following debt relief through the IMF and World Bank Heavily Indebted Poor Countries/Multilateral Debt Relief Initiative. Large oil revenues have allowed the country to boost spending and increase foreign...

The changing political landscape in the Arab world has created opportunities for economic transformation by tackling long-standing economic issues. Nevertheless, three years after the onset of political transition, implementing necessary economic policies has proven to be challenging. This paper...

This 1999 Article IV Consultation highlights that progress on structural reforms in Haiti in FY1998/99 has been mixed. In the financial sector, the central bank’s supervisory capacity and the regulatory framework continued to be strengthened. Performance under the FY1997/98 Staff-Monitored...