This 2011 Article IV Consultation highlights that the Gambian economy has performed well in recent years, despite a difficult global environment. The external current account deficit has widened in recent years, owing to weak tourism receipts and remittances and high global commodity prices....

Sudan has been adversely affected by the global crisis through a sharp decline in oil receipts. Executive Directors welcomed the Staff-Monitored Program (SMP), which aimed to reduce the fiscal deficit, tighten monetary stance, and increase exchange rate flexibility. Directors urged the...

In this study, against the background of deteriorating external conditions owing to the global crisis, a 28-month Stand-By Arrangement (SBA) for the Dominican Republic is reviewed. The objective is to limit the procyclicality of policies in the short term. The macroeconomic situation has...

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....

This 2013 Article IV Consultation highlights Italy’s assesses measures undertaken to revive economic growth. Italy is vulnerable to a renewal of euro area tension and risks from domestic policy slippages, stalling of structural reforms, and banking distress that could undermine...

This 2009 Article IV Consultation discusses that a nascent recovery in Togo’s economy is expected to be offset in 2009 by the impact of the global recession. The authorities have reiterated their commitment to the Poverty Reduction and Growth Facility (PRGF)-supported program and aim to...

This paper discusses Mali’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). The economy is recovering and inflationary pressures have abated. After a 0.4 percent GDP decline in 2012, Mali’s economy is on the mend. The improvement in the security...

Performance under the last ECF-supported program was broadly satisfactory. The government has prepared a medium-term policy framework to consolidate recent progress, and enhance growth prospects and poverty reduction efforts. Burkina Faso’s risk of debt distress is high. Executive...

The Greek economy showed strength supported by solid gains in employment, substantial real wage increases, low interest rates, and rapid credit expansion. Executive Directors appreciated the performance of the banking system and welcomed the Bank of Greece’s efforts to strengthen...

The Georgian antimoney laundering (AML) and combating the financing of terrorism (CFT) regime has significantly improved since 2007. However, technical deficiencies, poor implementation, and limited resources undermine the effectiveness of the financial intelligence unit (FIU) and AML/CFT...