This paper discusses key findings of the Second Review Under the Policy Support Instrument for Mozambique. Overall performance under the program was satisfactory but encountered unexpected challenges. Domestic revenues were stronger than envisaged, but the end-December 2007 assessment criterion...

Comoros remains in debt distress, pending the achievement of the completion point under the Highly Indebted Poor Country (HIPC) Initiative. The outlook for 2012 is broadly consistent with expectations under the Extended Credit Facility (ECF) arrangement. The IMF Executive Board has approved a...

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...

In Tonga, the fiscal position has strengthened but vulnerabilities remain. Directors have welcomed Tonga’s recovery from the global crisis but noted remaining vulnerabilities and a high debt burden. With downside risks clouding the outlook, Directors have emphasized the importance of...

This paper discusses Bangladesh’s Third Review Under the Extended Credit Facility and Request for Modification of Performance Criteria. Political uncertainty and nationwide strikes are taking a toll on economic activity, with private investment most affected. Real GDP growth moderated in...

Sudan has been adversely affected by the global crisis through a sharp decline in oil receipts. Executive Directors welcomed the Staff-Monitored Program (SMP), which aimed to reduce the fiscal deficit, tighten monetary stance, and increase exchange rate flexibility. Directors urged the...

The strong macroeconomic performance and the implementation of prudent fiscal and monetary policies and a flexible exchange rate regime have helped Mozambique to perform well under the Policy Support Instrument (PSI). Executive Directors advised to maintain macroeconomic stability and accelerate...

Denmark showed strong performance owing to its stability-oriented policies, high growth rates, and low unemployment. Executive Directors noted that the Danish flexicurity model has worked well, and stressed the need for prudent fiscal policies. Executive Directors welcomed the outcome of the...

The Islamic Republic of Mauritania’s macroeconomic developments have remained broadly positive, despite high international fuel and food prices and the near-term drought impact. Supported by a rapid growth in manufacturing industries, non-oil output is expected to grow by 4.8 percent in...

The article summarizes the positive economic development of Rwanda and its internal and external policies. Rwanda’s economy is referred to as a success story, but it also faces certain challenges. The country is focused on maintaining macroeconomic stability, sustaining sturdy growth, and...