Cambodia's reconstruction and reform efforts have spanned almost 25 years following the Khmer Rouge period, which ended in 1979. Economic reforms began in earnest in the early 1990s, but reform efforts were beset by ongoing internal tensions and civil unrest. Although external factors, including...

The report provides the details of the assessment on Mongolia’s Poverty Reduction Strategy Paper. It describes the Economic Growth and Poverty Reduction Strategy (EGPRS), which presents main policy directions of the government with a focus on economic growth acceleration and poverty reduction...

This Selected Issues paper describes recent economic developments in Swaziland and discusses some of the key issues that have a bearing on the economic outlook and policy debate. The paper examines developments with regard to output and inflation, fiscal policy, monetary policy and financial...

This Selected Issues paper and Statistical Appendix analyzes sources of economic growth in Benin. It concludes that the policies implemented since the early 1990s paved the way for higher growth rate by raising total factor productivity as well as capital accumulation. The paper examines the...

This Selected Issues paper for Cambodia explores the implications for long-term sustainable growth from cross-country analysis of the sources of growth. Cambodia’s low labor productivity, inadequate and expensive infrastructure, and a cumbersome regulatory environment do not bode well for...

This paper examines Cambodia’s 2002 Article IV Consultation and Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). Supported by inflows of development aid, economic activity regained vitality in 1999. The government’s macroeconomic strategy, which was supported by a PRGF...

This Selected Issues paper analyzes the global crisis and potential growth in Mexico. The paper uses two methodologies to assess to what extent the global crisis is likely to weigh on Mexico’s growth potential. The first approach is sectoral, examining the historical relationship between...

This Selected Issues paper for the Philippines has been prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. Spillovers have been particularly prominent for countries with financial systems with high...

Madagascar showed satisfactory performance under the Poverty Reduction and Growth Facility (PRGF) program. Executive Directors agreed that the crisis has undermined the timely achievement of the program, requiring the government to redouble its efforts. They welcomed the 2003 budget and stressed...

The government embarked on a reform program in early 1999 to revive the momentum and policy measures that had been interrupted in 1997 and 1998 owing to the regional financial crisis and internal political turmoil. Monetary and exchange rate policies in 1999 were also supportive of improved...