Mauritius’ 2009 Article IV Consultation discusses economic developments and policies. Output growth has been slowed from 4.2 percent per year in 2008 to less than 2 percent in 2009, as key drivers of growth have been contracted. Mauritius’ growth prospects depend heavily on the...

São Tomé and Príncipe pursued economic reforms and tried to reduce poverty amidst macroeconomic imbalances under the Poverty Reduction and Growth Facility (PRGF) program. Executive Directors supported the authorities’ decision to sustain the process of fiscal consolidation, and stressed the...

Over the past two decades, wide-ranging structural reforms, supported by prudent policies, have established Mauritius as a top regional performer. The Mauritian economy recovered in 2010. Real GDP growth is estimated to have accelerated to 4 percent (3 percent in 2009), driven by strong growth...

This 2009 Article IV Consultation highlights that Poland’s rapid growth had begun to lose steam even before the global crisis hit. Following robust and relatively well-balanced expansion, driven by an EU accession-related investment boom and rapid credit and wage growth, economic activity...

This Eleventh Review Under the Extended Arrangement and Request for Extension of the Arrangement focuses on Portugal’s macroeconomic framework and fiscal policy. Sovereign bond yields have declined sharply, buoyed by the improved economic outlook and increased investor appetite for higher...

The Irish authorities steadfastly maintained strong policy implementation despite a sharp escalation and expansion of stress in euro area sovereign bond markets. Strengthened European support is welcome, but early implementation is key, and restoring broader stability in the euro area is...

This 2013 Article IV Consultation highlights that Montenegro’s recovery from the collapse of the lending boom in 2008 has been slowed by the debt overhang that remains in the private sector. Output contracted in 2012 because of unusually severe winter weather early in the year, as well as...

This Selected Issues paper estimates the potential growth rate for South Africa using different methodologies. In line with existing studies and findings for other emerging markets, the paper finds that South Africa’s potential growth rate has declined in the post global financial crisis...

This Selected Issues paper examines two key questions on fiscal policy reform in the Czech Republic. First, how can the fiscal institutional framework be strengthened to maintain discipline and enhance transparency? Second, what are the priorities in expenditure reform that can be implemented...