This paper examines Peru’s 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and a Request for Modification and Waiver of Performance Criteria. The fiscal policy was tightened in early 2002 from the expansionary stance in the second half of 2001. The baseline...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Peru showed commendable economic performance under the Stand-By Arrangement, owing to its strong fundamentals, prudent macroeconomic policies, and progress with structural reforms. Executive Directors commended these developments, and stressed the need to strengthen fiscal prudence,...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper reviews Guyana’s progress under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). The staff of the IMF and IDA considers that Guyana’s performance with respect to the conditions for reaching the completion point under the enhanced HIPC Initiative has...

This 2004 Article IV Consultation highlights that Angola’s GDP grew by 11 percent in 2004, following a slowdown in growth in 2003, largely reflecting the profile of oil production, which now accounts for one-half of GDP. The economy outside the extractive sector is currently estimated to...

This paper assesses Rwanda’s First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Performance under the PRGF-supported program has been encouraging. However, poverty is pervasive, and the...

This paper examines Peru’s 2004 Article IV Consultation, Fourth Review Under the Stand-By Arrangement, and Request for Waiver of Nonobservance of Performance Criterion. In 2003, Peru’s real GDP grew by 4 percent, with inflation of 2.5 percent and a further strengthening of the...

Bosnia and Herzegovina has come a long way, but has to achieve more in terms of economic transition. The core and most urgent economic task is corporate restructuring. Labor market institutions need to be transformed alongside. The fiscal and structural reform agenda will require strengthened...

The Financial Sector Assessment Program (FSAP) program has been brought back on track, after some difficulties, in early 2003 (which led to a delay in completing the first review). Although a start has been made in strengthening the banking sector, significant further work is needed. The central...