South Africa’s 2005 Article IV Consultation reports that the short-term outlook is broadly favorable, with the main risks arising from a possible worsening of the external environment. The authorities plan to maintain a flexible exchange rate, and to intervene in the foreign exchange...

This paper focuses on Ukraine’s 2005 Article IV Consultation and Ex Post Assessment of Longer-Term Program Engagement. After four years of strong activity, annual growth has slowed sharply, from a peak of about 12 percent in 2004 to 3 percent for January–September 2005. Fiscal...

This 2003 Article IV Consultation highlights that economic growth in the Republic of Slovenia slowed during 2001–02 to about 3 percent, owing to a weak external environment and subdued domestic demand. Export growth slowed as demand from the European Union weakened, but the impact was...

This 2004 Article IV Consultation highlights that United Kingdom’s real GDP growth is estimated at about 3 percent in 2004 and is expected to stay stable at about 2½ percent in 2005–06, in line with potential growth. Domestic demand remains the key driver of growth, underpinned...

This Selected Issues paper and Statistical Appendix paper examines the issue of dollarization in Albania against the background of rapidly evolving banking, policy and prudential systems, and of growing importance of monetary policy as a tool for demand management. The period covered is...

This paper reviews economic developments in Slovenia during 1990–96. Slovenia experienced its first positive real GDP growth in 1993. Real GDP grew by 1.3 percent. This modest recovery began under the impetus of buoyant domestic demand, which grew by 8¼ percent; real foreign demand...

The Selected Issues paper examines the dynamics of the inflation process in the United Kingdom, particularly the influence of external shocks. The paper provides a brief summary of existing empirical work. It presents the expectations-augmented Phillips curve model used in the analysis. The...

This 2002 Article IV Consultation for Norway highlights that the mainland GDP growth edged up to an estimated 1.4 percent in 2002, from 12 percent in 2001, driven by strong consumption growth. Mainland investment and traditional exports slackened, as a result of weak external demand, high real...

This Selected Issues paper reviews how Australia’s economy has adapted to a flexible Australian Dollar. The paper provides a background on the float and the initial policy challenges. It discusses the main elements of the Future Fund proposal, and estimates how much Australia and other...

This Selected Issues paper and Statistical Appendix provide background information and analytical support for key policy issues discussed in the 2004 Article IV Consultation discussions with Mauritius. The impact of the erosion of trade preferences on exports, growth, and employment is assessed...