Two economists designed the main features of the charter of the IMF during World War II: John Maynard Keynes and Harry Dexter White. Several of those features are attributable primarily to White, including the adoption of fixed but adjustable exchange rates, the funding of operations with...

Over the last thirty years Burundi''s low economic growth has led to a significant decline in per capita GDP. The purpose of this paper is to shed light on supply-side constraints that prevented Burundi''s economy from growing faster. Lack of investment, civil conflict, economic inefficiencies,...

The Republic of Poland’s 2010 Article IV Consultation shows that Poland is the only European Union country to have escaped a recession in 2009 owing to its limited reliance on exports and well-capitalized and profitable banking system. Like its regional peers, it experienced spillovers from...

Singapore’s recent economic performance has been impressive, underpinned by prudent macroeconomic management. Economic activity remains strong despite a softening in external demand. On the demand side, domestic demand strengthened driven by private consumption and investment while net exports...

The U.S. economy continued to grow strongly over the year even in the face of a withdrawal of monetary stimulus and high oil prices. Executive Directors commended the Federal Reserve for its monetary tightening. They recognized that the financial sector has proven innovative and resilient. They...

This 2002 Article IV Consultation highlights that the United States economy slipped into recession in early 2001, as industrial production dropped sharply, investment and exports declined, and employment and weekly hours fell. The downturn was triggered in part by the collapse of the Information...

The key findings of Colombia’s 2010 Article IV Consultation on economic developments and policies are presented. The Colombian economy had begun to slow down in early 2008, as policies had been tightened to address overheating, but the global crisis caused private investment to collapse in the...

This 2009 Article IV Consultation highlights that the Dominican Republic's economy has been adversely affected by the global crisis. Output has been below potential as real GDP growth is decelerating rapidly from more than 5 percent in 2008 to an estimated 0.5 percent to 1.5 percent in 2009....

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists' analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries,...

The key findings of the Republic of Palau’s 2010 Article IV Consultation shows that the single most important issue in Palau remains fiscal policy, including its effect on medium-term growth, as fiscal consolidation proceeds. The global financial crisis followed on the heels of a massive...