The Savings Working Group in New Zealand presented recommendations in February 2011, and suggested raising national saving by 2–3 percent of GDP. The increase in net public saving in the country explains part of the reason for lower net private saving in New Zealand. Net public saving of...

This 2007 Article IV Consultation highlights that Switzerland’s economy is performing well. The expansion moved into its fourth year with above average growth and employment, and few signs of inflation. This favorable outcome can be traced to a vibrant external environment, including in...

This 2007 Article IV Consultation highlights that the economy of St. Vincent and the Grenadines is enjoying its second year of vigorous economic growth. Financial sector indicators have strengthened, but balance sheet vulnerabilities remain. Executive Directors have welcomed St. Vincent and the...

This Selected Issues paper highlights the Philippine growth performance led by the services sector. Average GDP growth is higher in the post-Asian crisis period in the Philippines, while the majority of the Philippines’s regional peers have experienced substantially lower growth in the...

This paper discusses key findings of the Third Annual Progress Report (APR) on the Poverty Reduction Strategy Paper (PRSP) for Guinea. The PRS implemented by the government since 2002 has the overall objective of reducing poverty significantly and sustainably, by increasing incomes and improving...

The NDP aims at transforming Côte d’Ivoire into an emerging market and halving the poverty rate. The framework for poverty reduction can be improved by developing a program of targeted interventions to support growth in key strategic sectors, public investment management, maintaining fiscal...

This paper focuses on the Poverty Reduction Strategy Paper (PRSP) and the Malawi Growth and Development Strategy (MGDS). The MGDS is the overarching strategy for Malawi from fiscal year 2006/07 to 2010/2011. The purpose of the MGDS is to serve as a single reference document for policymakers in...

From 2001, Togo has been engaged in the process of preparing its poverty reduction strategy paper (PRSP). As a result of the social and political crisis, Togo’s economy has been affected severely. To overcome this crisis, the government has been engaged in key reforms intended to restore...

This Selected Issues paper examines social spending reform and fiscal savings in Slovenia. Rising expenditure has been at the root of Slovenia’s fiscal deterioration since the onset of the crisis. The paper explores reform options to reduce Slovenia’s social spending over the...

The two legs that have held up the forint in recent years—a strong “EU accession effect†and positive sentiment toward emerging markets—may no longer be strong enough to offset Hungary’s weak fundamentals. Fiscal consolidation efforts should be supported by...