This paper examines Serbia and Montenegro’s Third Review Under the Extended Arrangement and Requests for Waiver of Performance Criterion. Serbia and Montenegro’s recent economic performance has been mixed, combining excellent progress in some areas with an uncomfortably large...

This paper discusses key findings of the Second Review for Ukraine under the Stand-By Arrangement and request for modification of performance criteria. Policy implementation has been broadly in line with the program. The end-May quantitative performance criteria on base money, net international...

Jamaica has performed well under the Stand-By Arrangement program. Executive Directors commended that overall macroeconomic performance under the program has been encouraging. Directors welcomed the program aimed at fiscal responsibility legislation and central treasury management, public debt...

Ukraine’s 29-month Stand-By Arrangement (SBA) was approved. Ukraine’s satisfactory performance under the economic program supported by the Stand-By Arrangement, along with strong policy commitments for the coming year, are supporting a steady recovery in confidence and broadening...

This 2005 Article IV Consultation highlights that New Zealand’s GDP growth was particularly strong in 2004, at 4.8 percent, led by a surge in domestic demand. Private consumption grew by 6 percent, reflecting high employment growth, strong commodity prices, and household borrowing against...

This paper examines key findings of Iceland’s Request for a Stand-By Arrangement from the IMF. Iceland’s economy is in the midst of a banking crisis of extraordinary proportions that is expected to lead to a deep recession, a sharp rise in the fiscal deficit, and a dramatic surge...

This 2009 Article IV Consultation highlights that the Lithuanian economy is undergoing a severe adjustment, after years of rapid economic growth and financial integration. With the global financial crisis, the unwinding of the imbalances accumulated during the boom has led to a sharp economic...

This paper discusses Serbia and Montenegro’s Sixth Review Under the Extended Arrangement, Financing Assurances Review, Request for Waivers of Nonobservance of Performance Criteria, and Proposed Post-Program Monitoring. Program implementation since the fifth review has been mixed, delaying...

This 2005 Article IV Consultation highlights that macroeconomic imbalances in Serbia and Montenegro widened in 2004, putting at risk some of the impressive earlier achievements. Growth, about 5 percent in nonagriculture since 2002, has been fueled by a surge in domestic demand. Lack of...

Burundi is emerging from more than a decade of civil conflict that started with the 1993 coup d’état against its first elected government. Macroeconomic developments in 2005 were broadly in line with the Poverty Reduction and Growth Facility (PRGF) program, although growth was lower at about...