The 2007 Article IV Consultation on the United Arab Emirates (UAE) examines the near- and medium-term outlook, inflation, and fiscal policy. The rapid expansion is supported by an outward-oriented development strategy and sustained high oil prices. Reforms are under way to strengthen the...

This 2006 Article IV Consultation highlights that Malawi is at a critical juncture following its progress on macroeconomic stability, attainment of the Heavily Indebted Poor Countries (HIPC) completion point in August 2006, and the recent launch of the Malawi Growth and Development Strategy,...

This paper discusses key findings of the Second Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility for Cameroon. Economic activity is slowing, reflecting a weak business environment, stronger competition from low-cost producers of manufactured products, and...

This 2006 Article IV Consultation highlights that real GDP in the Federated States of Micronesia grew by only 11⁄2 percent in FY2005 and declined by nearly 1 percent in FY2006. The underlying fiscal situation has deteriorated, despite a decline in the overall deficit. Executive Directors have...

This 2006 Article IV Consultation highlights that with high oil prices and a significant policy stimulus, the Iranian economy continued to grow strongly in 2005–06. Real GDP growth is estimated at 51⁄2 percent. Oil GDP growth was modest owing to capacity constraints, while non-oil GDP growth...

This 2006 Article IV Consultation highlights that economic developments in Trinidad and Tobago continue to be underpinned by a favorable international environment. Surging energy prices, the exploitation of new gas fields, and an expansion of industrial capacity helped sustain robust economic...

This 2005 Article IV Consultation highlights that despite a difficult political environment, economic growth in Ecuador is estimated to have exceeded 3 percent in 2005, with the non-oil sector expanding by 31⁄2 percent. The strong growth in the oil sector that followed the completion of the...

This paper focuses on Tajikistan’s Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). The program for 2005 has been implemented satisfactorily. All quantitative and structural performance criteria and indicative targets for end-September 2005 were observed, and all...

Grenada quickly recovered from the devastating effects of Hurricane Ivan. Executive Directors welcomed the economic reform program aimed to promote economic growth, restore fiscal and debt sustainability, reduce vulnerabilities, and alleviate poverty. They emphasized the need to strengthen the...

This 2005 Article IV Consultation highlights that the economic activity in Jamaica has been adversely affected by shocks. Real GDP contracted sharply in late 2004 following the devastating effects of Hurricane Ivan. Thereafter, while output recovered, it was dampened by the poor performance of...