This paper discusses Bosnia and Herzegovina’s Fifth Review Under the Stand-by Arrangement and Requests for Waivers of Applicability and Extension and Augmentation of the Arrangement. Policy implementation remains strong despite a challenging environment. All end-September 2013 performance...

This paper discusses Portugal’s Eighth and Ninth Reviews Under the Extended Arrangement and Request for Waivers of Applicability of end-September Performance Criteria (PC). Program implementation has remained broadly on track, in spite of a political crisis and significant legal...

Important issues of the Netherlands are discussed. Openness to trade has benefited the Netherlands before the crisis and has supported the recent recovery process. However, both financial openness and trade linkages have also been a transmission channel for the financial crisis. Synchronized...

This paper estimates potential growth in the Philippines using different methodologies, and discusses growth prospects for the medium term. Several approaches can be used to estimate potential growth. It also describes a forecasting and monetary policy analysis system (FPAS) model. Using the...

This Selected Issues paper examines fiscal policy implications for labor market and economic diversification in Botswana. The IMF report analyzes that large public employment significantly affect labor market outcomes in middle-income countries, including Botswana. It is noted that reforms aimed...

This 2011 Article IV Consultation reports that despite an uncertain international economic environment, the Algerian economy has been doing relatively well. Real nonhydrocarbon GDP growth in 2010 reached 6 percent and total GDP growth was 3 percent. Executive Directors have welcomed...

Namibia’s government has launched a major three-year fiscal initiative in 2011 aimed at increasing growth and employment. Public debt is rising rapidly, from a low base. The authorities intend to unwind the fiscal expansion in 2014. Fiscal consolidation would help keep public debt to a...