Macroeconomic developments benefited from oil windfalls, but structural problems still impede non-oil growth. Fiscal and external balances improved in the Central African Economic and Monetary Community (CEMAC) because of the surge in oil prices and better fiscal management. Oil-related reserve...

Despite good economic reforms, macroeconomic stability, and a major expansion of the hydrocarbon sector, Bolivia still achieved only modest gains in poverty reduction. Executive Directors stressed the importance of fiscal prudence, domestic taxation, and strengthening of public expenditure...

An evaluation of observance of good transparency practices relating to banking supervisory and regulatory policy was carried out as part of the Financial Sector Assessment Program (FSAP) against the IMF Code of Good Practices on Transparency in Monetary and Financial Policies. It also provides...

Sudan’s 2006 Article IV Consultation reports that growth has been robust, inflation has been kept at a single-digit level, and important reforms have been undertaken. There has been progress with financial sector reforms and trade liberalization, and the managed floating exchange rate regime...

EXECUTIVE SUMMARY The Danish authorities have taken important steps in recent years to improve financial system resilience. Financial regulation and supervision have been strengthened. A new bank resolution framework that includes bail-in of creditors has been adopted and deployed to resolve...

This technical note discusses significance of macroprudential policies for Denmark. Macroprudential policy seeks to contain the buildup of macrofinancial imbalances associated with credit booms and asset price bubbles, a function which is particularly important in Denmark, where the space for...

This paper discusses findings of the Financial System Stability Assessment for Georgia. Georgia has weathered several shocks, but still faces a number of important risks. The economy has withstood well the conflict with Russia, the global financial crisis, and domestic political uncertainty....

The financial stability assessment under the Financial Sector Assessment Program (FSAP) for Korea was carried out in close collaboration with the authorities. The assessment included top-down (TD) and bottom-up (BU) stress testing of Korea's commercial banks and certain non-bank depository...

This paper provides new evidence on the effectiveness of expenditure rules. The analysis is based on a unique dataset covering all countries with national and supranational fiscal rules, including 33 expenditure rules, between 1985 and 2013. It contributes to the existing literature on fiscal...