The Salvadoran economy was severely affected by the global economic slowdown. Further strengthening the economy’s growth prospects and reducing poverty will depend on a durable fiscal consolidation effort and improvements in the investment climate through continued commitment to...

In this study, the authorities outlined a two-stage strategy and explained the need for requesting the cancellation of Stand-By Arrangement and the approval of a Three-Year Arrangement Under the Poverty Reduction Growth Facility (PRGF). The objective of the three-year program is to review growth...

The performance criteria have not been met, but Executive Directors commend the government for taking corrective actions and for their commitment to maintain the pace of structural reforms. The government is urged to prepare a quality poverty reduction strategy paper as quickly as possible....

This 2005 Article IV Consultation highlights that Mongolia’s overall economic performance was stronger than expected and broad based in 2004 and early 2005. Sectoral contributions to high growth included a rebound in the livestock sector from harsh winter shocks of 2000–01 and...

This 2004 Article IV Consultation highlights that monetary policy of Kenya has been expansionary since 2003/04 to promote economic growth. This has, however, contributed to the recent rise in inflation. Executive Directors have observed the progress that has been made under the Poverty Reduction...

The staff report for the Request for Stand-By Arrangement on Gabon highlights economic developments and policies. A higher-than-anticipated rise in oil GDP more than offset lower-than-expected growth of non-oil GDP. Overall fiscal performance was strong, as the non-oil primary deficit was...

The Kyrgyz Republic has made good progress under the Poverty Reduction Growth Facility (PRGF)-supported economic program. Executive Directors commended the sound policies, low inflation, and poverty reduction. They appreciated the strong fiscal discipline, and monetary and exchange rate...

This paper discusses Nicaragua’s 2005 Article IV Consultation and Seventh, Eighth, and Ninth Reviews Under the Three Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). The economy continued to perform well, notwithstanding pressure from higher oil prices. Strong...

This 2003 Article IV Consultation highlights that after a contraction in GDP of more than 4 percent in 2001 and only a marginal expansion in 2002, the pace of economic growth in St. Lucia accelerated in 2003 to 3.7 percent, driven by a rebound in tourism of close to 17 percent. Despite the...

This 2006 Article IV Consultation highlights that economic developments in Trinidad and Tobago continue to be underpinned by a favorable international environment. Surging energy prices, the exploitation of new gas fields, and an expansion of industrial capacity helped sustain robust economic...