This paper discusses key findings of the Second Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility for Cameroon. Economic activity is slowing, reflecting a weak business environment, stronger competition from low-cost producers of manufactured products, and...

The global financial crisis has slowed the Burundian economy and a significant decline in inflation. Against the background of the East African Community (EAC) integration, the Article IV Consultation discussions focused on three fundamental themes. IMF staff and authorities agreed on the need...

This paper presents key findings of the Second and Third Reviews for Gabon under the Stand-By Arrangement. Performance under the program has been mixed. Non-oil economic growth was robust prior to the onset of the international financial crisis, spurred by high oil and commodity prices. However,...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

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 2008 Article IV Consultation highlights that over the last decade, Albania’s macroeconomic performance has generally been strong and per capita GDP in U.S. dollar terms more than doubled. Strong fiscal policy, largely based on major improvements in tax administration, lowered public...

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...

This paper discusses key findings of the Third Review Under the Stand-By Arrangement for Seychelles. The program is on track, and macroeconomic stabilization has advanced rapidly. The authorities continue to implement the program with a high degree of ownership and success. All quantitative...

This staff report for Cambodia’s 2008 Article IV Consultation describes economic developments and policies. Growth is slowing, liquidity is tightening, and, as a result, banks’ balance sheets are coming under strain. Competitiveness has eroded given the recent sharp real...

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...