The paper describes the impressive economic progress made by Iceland in implementing program policies, stabilizing the exchange rate, and bringing inflation down, under a program supported by a Stand-By Arrangement (SBA). The authorities noted that key challenges are to reduce the high level of...

This paper highlights Mozambique’s 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Modification of Performance Criteria. The performance under the program...

The current cyclical upswing underscores the potential of the Polish economy with regard to EU accession and in the face of favorable global growth prospects. The current juncture offers good opportunities to lock in improved economic performance. Uncertainties remain regarding reducing the...

This paper discusses key findings of the First Review Under the Stand-By Arrangement for Iceland. Post-crisis dynamics has followed the expected pattern: a sharp drop in GDP, rapid decline in inflation, shift of the current account to balance, and gradual stabilization of currency and financial...

Croatia’s annual GDP growth accelerated to 4–5 percent, per capita incomes advanced further toward the EU average, and unemployment declined to the lowest levels since Croatia’s independence. The staff report for Croatia’s 2009 Article IV Consultation is also...

This 2004 Article IV Consultation highlights that economic growth in New Zealand slowed in early 2003 but rebounded in the latter part of the year. Real GDP growth declined from 4¼ percent in 2002 to a seasonally adjusted annualized rate of 2¾ percent in the first half of 2003, amid...

This 2003 Article IV Consultation highlights that the Republic of Latvia has enjoyed continued strong economic performance since the last Article IV Consultation in January 2002. Real GDP growth was 7.9 percent in 2001 and 6.1 percent in 2002; growth has been led by investment and, more recently,...

This 2013 Article IV Consultation highlights that in recent years, the Indonesian economy has benefited from a supportive global economic environment, namely in the form of a rise in commodity prices and strong growth in emerging markets. However, these conditions have been less supportive...

This 2006 Article IV Consultation highlights that following exceptional economic progress, based on macroeconomic stability and economic flexibility, imbalances and cautionary signals have emerged for Lithuania. Centered around nontraded goods production, GDP grew 7.5 percent in 2005. Most...

This paper discusses key findings of the Third Review for Peru and Inflation Consultation Under the Stand-By Arrangement. All performance criteria for end-December 2007 and end-March 2008 were observed, but inflation in March exceeded the upper limit of the program’s consultation band...