This staff report discusses Seychelles 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. The repayment of domestic debt, a preference for foreign financing, and shallow domestic financial markets have resulted in...

The Korean economy is slowing in the face of strong global headwinds. It is projected to bottom out during the course of 2012, regaining momentum towards the end of the year, in line with the global recovery. The main short-term risk to the outlook is a further intensification of the euro area...

This Selected Issues Paper focuses on the economic and financial ties between Poland and the euro area and analyzes the associated spillovers. It documents stylized facts about trade, vertical integration, foreign direct investment, and banking system linkages between Poland and core euro area...

Samoa has achieved a major economic transformation over the last decade and a half. This 2007 Article IV Consultation highlights that real per capita GDP in Samoa has increased by more than 3 percent per year on average, and external public debt has fallen below 40 percent of GDP. The external...

The 2012 Article IV Consultation with Liberia discusses the economic developments and policies of the country. Liberia recorded strong macroeconomic performance under the three-year Extended Credit Facility (ECF) Arrangement, but poverty continued to be pervasive. The short- to medium-term...

The economy continues to recover at a steady pace, buoyed by strong activity in the oil and gold sectors, as well as public investment. In the wake of the January 2011 devaluation and concurrent increase in taxes, the fiscal balance shifted from a deficit of 3 percent of GDP in 2010 to a surplus...

This 2013 Article IV Consultation highlights that growth in Uruguay has moderated to a more sustainable pace since 2012, mostly owing to weaker external demand. Real GDP growth is projected at 4 percent in 2013 and 3.5 percent in 2014. Fiscal policy loosened in 2012 and is set to remain slightly...

The 2007 Article IV Consultation explains Romania’s fiscal and income policies and financial sector issues. The economic outlook is clouded by a widening current account imbalance and the risk of a resurgence of inflation pressures, as a result of strong domestic demand that is being...