Malawi has made satisfactory progress in implementing its Poverty Reduction Strategy Paper (PRSP) for at least one year, and maintained satisfactory macroeconomic policies as evidenced by its performance under a program supported by the Poverty Reduction and Growth Facility (PRGF) over the last...

The Gambian economy performed well in the face of external shocks under the Extended Credit Facility. Executive Directors welcomed the 2011 budget, which focuses mainly on revenue enhancement, limiting government’s domestic borrowing, and reduction of poverty. They agreed that IMF...

Kosovo’s economic performance has strengthened considerably, but structural deficiencies undermine export sector development and prospects for sustainable growth. The program seeks to restore fiscal sustainability and safeguard financial sector stability. Restoring fiscal sustainability...

The two newly autonomous countries within the Kingdom of the Netherlands face substantial challenges. Growth has been low, and unemployment high. The current account deficit has widened to worrisome levels, increasing the vulnerability of the peg to the U.S. dollar and stimulating calls for...

This paper reviews Albania’s 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), Request for Extension of the Arrangement, and Financing Assurances Review. The macroeconomic performance of the Albanian economy has been remarkable by both...

The Eritrean economy continues to be adversely affected by the effects of the border conflict with Ethiopia. In other structural reform areas, the government seems to have further increased state control over the economy. The authorities confirmed their commitment to strengthen the role of the...

This 2005 Article IV Consultation highlights that following three years of sluggish economic growth, activity in Guatemala improved somewhat in 2004, with real GDP rising by 2¾ percent, but consumer price inflation drifted upward to more than 9 percent. Monetary policy is being geared to...

The economy is on the right track, and program performance has been good. Fiscal adjustment is on track to restore fiscal sustainability. The adjustment plan appropriately focuses on reducing current spending while increasing investment and protecting the most vulnerable. The current monetary...

This Ex-Post Assessment of Longer-Term Program Engagement for Ghana explains its experience with particular attention to the IMF's role. Progress in structural reform was slow, but Ghana also avoided mistakes made by some countries that introduced reforms without enough public support....

This paper discusses key findings of the First Review Under the Poverty Reduction and Growth Facility (PRGF) for Guinea. All but two quantitative performance criteria (PC) were met. IMF staff supports the authorities’ requests for waivers of nonobservance, based on their remedial actions....