This 2006 Article IV Consultation highlights that following exceptional economic progress, based on macroeconomic stability and economic flexibility, imbalances and cautionary signals have emerged for Lithuania. Centered around nontraded goods production, GDP grew 7.5 percent in 2005. Most...

The Lebanese authorities have requested follow-up Emergency Post-Conflict Assistance with an access of 12.5 percent of quota to support their economic program. The 2006 war with Israel led to a political stalemate and repeated outbreaks of domestic fighting until the formation of a national...

This paper presents a simple structural model of inflation adapted for Nigeria based on the methodology of Berg, Karam, and Laxton. This approach allows different policy options to be considered systematically in a baseline forecasting exercise. The development and calibration of this model are...

This paper discusses an arrangement under the Flexible Credit Line (FCL) for Colombia. Colombia is well placed to confront challenges posed by the ongoing global downturn. Access under an FCL arrangement of SDR 6.966 billion, which the authorities intend to treat as precautionary, would support...

Uruguay has consolidated economic gains, supported by strong macroeconomic policies and a broadly favorable external environment. Growth has exceeded expectations, unemployment has reached record lows, and poverty has continued to fall, while economic vulnerabilities have been significantly...

This 2012 Article IV Consultation discusses that the economy of Poland fared well throughout the crisis. The growth was robust and well balanced in 2011. The banking sector remained profitable and well capitalized. Declining provisioning boosted profitability and the average capital adequacy...

The macroeconomic environment is sound, with low inflation and a comfortable external position, although the fiscal position remains a concern for the medium term. The authorities have successfully privatized and liberalized the telecommunications, energy, and transportation sectors. Moreover,...

This 2011 Article IV Consultation reports that Fiji’s economic outlook appears stable, but there are downside risks related to the political situation, structural weaknesses, and the global environment. The 2012 budget has proposed much-needed fiscal consolidation, though marginal income...

This 2007 Article IV Consultation highlights that following an extended boom led by strong domestic demand, the slowdown in the United States has largely reflected a drag from residential investment as the housing market has weakened substantially. Unexpected weakness in business investment and...

The staff report for the 2008 Article IV Consultation of Romania reviews the issues to tighten fiscal policy, putting less of the stabilization burden on the fledgling inflation-targeting framework. GDP growth has remained strong, underpinned by massive capital inflows. Executive Directors...