Albania’s Third Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility is analyzed. Albania has reached a pivotal stage in its economic development. Increasing foreign direct investment and rapid financial sector development point to a faster convergence...

This paper focuses on the Fourth Review for Sierra Leone under the Poverty Reduction and Growth Facility. Program performance in the second half of 2008 was mixed. Although economic activity slowed in the last quarter, real GDP grew at an estimated 5.5 percent for the year. A key challenge is to...

This paper presents key findings of the Second Review for Seychelles under the Stand-By Arrangement. The program is on track, and macroeconomic stabilization has advanced rapidly. The authorities are implementing the program with determination and a high degree of ownership. All quantitative...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Mali. Implementation of the ECF-supported program has been challenged by the global financial crisis and the ensuing global slowdown. The new program aims to continue prudent fiscal policies and...

This 2009 Article IV Consultation highlights that Iraq’s longer-term economic outlook is strong as oil prices and production are projected to increase markedly in the coming years. However, based on conservative oil price assumptions, the external current account and the overall balance...

The Kyrgyz authorities have maintained macroeconomic discipline in recent years, despite a challenging political environment. This 2006 Article IV Consultation highlights that the economic activity is rebounding in 2006, with year-over-year real GDP growth of 3.2 percent through September, after...

This paper presents key findings of the Second Review for the Kyrgyz Republic under the Extended Credit Facility. Buoyant revenue collection and significant shortfalls in external financing led to a lower-than-programmed fiscal deficit for 2011. The overall health of the banking sector continued...

The Kyrgyz Republic has stabilized with the formation of a new coalition, but political uncertainty remains. Despite a slump in gold production and delays in donor financing, monetary and fiscal policies remained prudent. Improving the business climate, good governance, and strong institutions...