This 2004 Article IV Consultation highlights that economic growth in Yemen slowed in 2004 owing to a sharp contraction in the oil sector. Oil production declined by 5.9 percent, reflecting diminishing recovery from aging large oil fields as well as the absence of significant new discoveries....

This paper examines Congo’s 2004 Article IV Consultation and New Staff-Monitored Program (SMP). In the context of improved security, the pace of economic activity in the non-oil sector has increased. Non-oil real GDP increased by about 10 percent per year on average during 2000–03....

This paper reviews Benin’s progress and proposes IMF Executive Board approval of the Completion Point Under the Enhanced Heavily Indebted Poor Countries (HIPC) Framework. The IMF staff and IDA consider that Benin has met the conditions for reaching the completion point under the enhanced...

This paper reviews Indonesia’s 2004 Article IV Consultation and Post-Program Monitoring Discussions. The Article IV consultation provided a timely opportunity to assess achievements under recent IMF arrangements and to take stock of remaining challenges. The discussions focused on...

This 2002 Article IV Consultation highlights that since the conclusion of the last Article IV consultation in March 2001, Uganda has continued to implement disciplined financial policies and sound structural reforms that have helped to sustain robust economic growth despite an adverse external...

The staff report for the 2005 Article IV Consultation on the People’s Republic of China highlights economic developments, policy discussions, and structural reforms. A larger external current account surplus, together with strong capital inflows, led to a further sizable increase in gross...

The first review of the three-year PRGF arrangement approved on May 2, 2001, has been delayed to give the authorities time to rectify weaknesses in program execution during a four-month consolidation period by meeting specified revenue and expenditure targets set for that period. The medium-term...

This paper focuses on Rwanda’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Nonobservance of Performance Criteria. Macroeconomic performance of Rwanda remains broadly on track. Real growth in 2004 is...

This paper examines the completion point document for Senegal’s Enhanced Initiative for Heavily Indebted Poor Countries. Senegal could reach the completion point on the basis of a full poverty reduction strategy and sound macroeconomic policies, as well as specific structural and social...

The staff report for the First Review Under the Stand-By Arrangement on the Republic of Croatia focuses on fiscal policy and monetary and financial sector policies. Financial soundness indicators show a continuation of the overall strengthening of the banking system, although foreign...