Zambia has achieved robust economic growth over the years, and poverty has begun to trend downward under the Poverty Reduction and Growth Facility Arrangement. Prudent fiscal policy has reduced the domestic financing need and facilitated the implementation of a firmer monetary policy. Executive...

This paper examines Zambia’s Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and a Request for Waiver and Modification of Performance Criteria (PC). Performance under the PRGF-supported program has been good, although there were delays...

The fiscal stance has been more expansionary in 2008, but there should be no need for net domestic financing. The new fiscal regime for mining increases the average effective tax rate from a level that was significantly below that of other mining countries. The monetary program aims to reduce...

This paper discusses Sierra Leone’s Request for a Three-Year Arrangement under the Poverty Reduction and Growth Facility (PRGF). Sierra Leone has made considerable progress during the last PRGF-supported program toward macroeconomic stability. Macroeconomic performance was generally...

This paper examines Zambia’s 2003 Article IV Consultation and Ex Post Assessment of Performance Under IMF-Supported Programs. Zambia’s economic performance has improved significantly in the last four years. After more than two decades of economic decline and inflation averaging...

This 2005 Article IV Consultation highlights that economic performance in Ghana has improved since 2000, with the economy growing at its fastest pace in more than a decade. In 2004, real GDP growth reached 5.8 percent, driven by agriculture and a strong pickup in the services and construction...

This paper discusses key findings of the Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Tanzania. Economic growth, inflation, and the external position have evolved in a manner consistent with program objectives, and the program has...

This paper discusses key findings of the 2006 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility for Niger. Macroeconomic performance and policy implementation have been broadly satisfactory. After a drought in 2004, a bumper harvest in late 2005 and good...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) program for Sierra Leone. Performance under the IMF-supported program was mixed. Output growth was strong at 6.8 percent and broad-based, but key fiscal revenue and spending objectives...