This paper presents Armenia's 2023 Article IV Consultation and Second Review under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause. The Armenian authorities continue to treat the SBA as precautionary. Armenia's strong growth...

This selected issues paper provides background on evolution, highlight the rationale behind the key changes, describe the most important extensions and their implications, and to then present several policy applications, which played a part in informing the 2023 Article IV discussions with the...

The 2023 Article IV Consultation discusses that the Philippines' growth momentum started to moderate after a strong post-pandemic recovery. Growth is projected to rebound in the second half of 2023 and 2024 while inflation is expected to gradually approach the target. Risks to the growth outlook...

This Selected Issues paper provides an international perspective to the authorities' two recent policy measures: setting up new savings and counter cyclical and climate infrastructure funds and reforming the judicial review of planning decisions in Ireland. The first essay presents international...

This 2023 Article IV Consultation highlights that Ireland's economy has shown remarkable resilience in the face of consecutive shocks. The Irish economy has displayed remarkable resilience in the face of recent consecutive shocks and is well-positioned to achieve a soft landing. Growth is...

This Selected Issues paper discusses policy options and trade-offs in Bangladesh. After a prolonged period of stable inflation, Bangladesh is experiencing a bout of persistently high inflation since the beginning of Russia's war in Ukraine. Bringing inflation down and restoring macroeconomic...

Sub-Saharan Africa's recovery has been abruptly interrupted. Last year, activity finally bounced back, lifting GDP growth in 2021 to 4.7 percent. But growth in 2022 is expected to slow sharply by more than 1 percentage point to 3.6 percent, as a worldwide slowdown, tighter global financial...

The Central Bank of Seychelles (CBS) sets a high benchmark for transparency, given the economic, and financial development and literacy circumstances of Seychelles, which is recognized by the stakeholders, thus maintaining a high level of trust and accountability. Despite constrained human...

Following the pandemic-induced recession in 2020, economic growth recovered in 2021, with non-oil GDP growth reaching 4.6 percent, despite being negatively impacted by floods. Inflation increased markedly since 2021 owing to the floods and supply-side disruptions, as well as continually rising...