This 1999 Article IV Consultation highlights that macroeconomic developments in Latvia were severely affected by the Russian economic crisis. Real GDP declined by 1.9 percent in the fourth quarter of 1998, and further contraction is estimated for the first quarter of 1999. As a consequence, the...

The reports highlights that, even though the Russian economy has started reviving from the crisis, growth has been moderate and inflation high. Executive Directors have advised that the focus should be on reducing fiscal vulnerabilities, lowering inflation, promoting a stronger and more...

Despite severe economic, political, and natural setbacks in Benin in 2010, its economic growth has accelerated in 2011. The Executive Board of the International Monetary Fund (IMF) has appreciated Benin’s economic performance under the program supported by the Extended Credit Facility (ECF)....

This Selected Issues paper and Statistical Appendix discusses initial performance and other issues relating to the implementation of the value-added tax in Mauritius in 1998. The paper highlights that as the Mauritius economy has continued to expand at a relatively rapid pace, the need for the...

This Selected Issues paper analyzes the use of capital controls and evolution of the capital control regime in Malaysia. The paper highlights that following a period of strong downward pressures on the ringgit, the Malaysian authorities introduced on September 1, 1998 a wide range of capital...

This paper reviews economic developments in the Kyrgyz Republic during 1995–97. Significant progress has been achieved in establishing macroeconomic stability since 1994. Inflation has fallen sharply over 1992–97, and projections indicate that the 17 percent targeted for the year will be...

This 1999 Article IV Consultation highlights that Lithuania has made impressive progress in macroeconomic stabilization and market transition. Following the introduction of the currency board in 1994, inflation has come down rapidly, and market reforms have provided a sound basis for economic...

This Selected Issues paper and Statistical Appendix highlights that the real GDP growth in Latvia accelerated in the second half of 1997, and is estimated at 6 percent for the year. Growth was broad-based, with particularly strong performance in the services sector and construction, and has been...

Increasing integration to the East has benefited the Austrian economy, but also created vulnerabilities that came to a head with the global financial crisis. The crisis has highlighted old challenges and created new ones that need to be addressed. The banking sector’s return to more normal...

In this study, Cameroon’s economic recovery, low inflation, and positive economic prospects have been ascribed. Efforts to improve non-oil revenue by broadening the tax base, streamlining exemptions, and increasing the efficiency of tax and customs administration are outlined. The need to...