Trinidad and Tobago showed strong economic performance led by the buoyant energy sector. Executive Directors welcomed the robust economic activity, and the decline in public debt and external reserves. Directors stressed the need for strong macroeconomic and structural policies to enable the...

Budget revenue in FY2006/07 amounted to 42 percent of GDP, with hydrocarbon revenue mirroring rising oil prices. The current account recorded a surplus of about 31 percent of GDP in 2006. Monetary conditions were characterized by ample liquidity and strong credit growth. Qatar’s medium-term...

This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 41⁄2 percent while consumer prices declined. The favorable developments in the oil market contributed to a...

Kuwait’s 2006 Article IV Consultation reports that its macroeconomic performance has been strong in recent years reflecting sharply higher oil and non-oil activity. Over the medium term, Kuwait’s financial position is projected to remain strong. The large external current account and fiscal...

The Slovak Republic’s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...

This 2005 Article IV Consultation for the Netherlands Antilles’ reports that economic growth has been feeble so far in this decade, in the midst of economic policy drift. Growth has been constrained by still inflexible labor markets, widespread state ownership and interference in commercial...

This 2004 Article IV Consultation highlights that India is on track for another year of robust growth in 2004/05. Supported by a strong monsoon, growth rebounded to 81⁄2 percent in 2003/04, the highest level in more than a decade. In 2005, firms appear to have embarked on a new investment...

The Kingdom of Lesotho’s 2005 Article IV Consultation reports that the government’s fiscal position and the external current account have improved markedly. The authorities are preparing an action plan, in collaboration with development partners, to improve the business climate. Critical...

Sweden’s 2005 Article IV Consultation reports that strong productivity gains, wage moderation, and falling nonenergy import prices contributed to reducing inflation, and creating room for aggressive monetary easing. Export growth has been led by a strong recovery in the telecommunications and...

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...