This 2009 Article IV Consultation highlights that Malawi’s macroeconomic performance has improved significantly over the past two years, and the country’s agricultural-based economy has weathered the global economic storm relatively well. Good weather and the distribution of...

Policy implementation has improved since the completion point. Recent economic performance has been encouraging, but sustaining it will require an acceleration of reforms by the government. Rwanda’s medium-term program aligned with the Poverty Reduction Strategy Program priorities...

Despite abundant natural resources and arable land, Guinea-Bissau is ranked at the lowest end of the UN human development index, mainly because of the civil war of 1998–99 and the ensuing prolonged political instability and serious governance deficiencies thereafter. Since mid-2004,...

This paper presents Malawi’s First Review Under the Poverty Reduction and Growth Facility. The overvalued exchange rate has put external reserves under pressure, and the backlog of unpaid import invoices persists. The impact of the overvalued exchange rate on the value of donor inflows...

This 2004 Article IV Consultation highlights that in 2003, Guinea’s economic situation deteriorated on account of exogenous conditions, as well as poor macroeconomic management and the lack of progress in key structural areas. Annual real GDP growth slowed down from 4.2 percent in 2002 to...

Guinea has implemented an impressive policy shift toward macroeconomic stabilization under the economic program. Executive Directors commended this development and stressed the need for tight fiscal and monetary policies and welcomed the debt sustainability analysis and implementation of the...

This 2004 Article IV Consultation highlights that Benin’s economic performance over 2001–03 was strong. Real GDP growth averaged 5.3 percent, driven by growth in the cotton and services sectors. Inflation was low, averaging 2.6 percent per year. The external current deficit...

This paper analyzes requests from Chad authorities for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Additional Interim Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The authorities made progress in implementing structural...

The staff report for the Second Review Under the Poverty Reduction and Growth Facility on Ghana highlights economic developments and policies. Efforts to consolidate the fiscal position continued, and there was no net domestic financing of the budget in 2003, implying a sharp reduction of...