Algeria remains heavily dependent on the hydrocarbon sector and still maintains a sizable and inefficient state-owned enterprise sector. Against this background, the paper addresses two different issues with important implications for macroeconomic stability in Algeria. The paper proposes the...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper examines the Staff-Monitored Program (SMP) for Malawi. The authorities have requested staff monitoring of their macroeconomic program for the 2004/05 fiscal year (June–July) with a view to establishing a performance track record that could lead to a new Poverty Reduction and...

This paper presents an update to the Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency Module for Italy. Some progress has been made vis-à-vis the 2003 ROSC update, especially toward strengthening the integrity of data. The reconciliation of above- and below-the-line...

This paper examines the Progress Report for Albania’s National Strategy for Socio-Economic Development (NSSED). 2002 was the first year of implementing the NSSED. The implementation process has been oriented toward achieving the annual objectives and in accordance with the program of...

This paper presents an Ex Post Assessment of Longer-Term Program Engagement for Sierra Leone. Sierra Leone has had almost continuous involvement with IMF programs since 1994 under a variety of arrangements. All the IMF-supported programs in Sierra Leone during 1994–2004 had the same...

This paper provides a review of recent economic developments in Palau, covering the first five years of the Compact of Free Association (Compact) with the United States. The paper analyzes the economic growth, prices, wages, and employment. The study assesses the public finances and overall...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper analyzes economic developments in Chad during 1990–98. Chad resumed its economic adjustment efforts in 1994–95, in the aftermath of the devaluation of the CFA franc of 1994, and embarked, in mid-1995, on a comprehensive structural adjustment program. During the period...

This Selected Issues paper and Statistical Appendix on Brazil looks at price developments following the floating of the Real in mid-January 1999. The paper highlights that the experiences in East Asia—Indonesia, Korea, Malaysia, Philippines, and Thailand—all show that the...