KEY ISSUES Context: Ethiopia’s investment-led development strategy has delivered robust growth and progress toward Millennium Development Goals (MDGs). Restrained fiscal and monetary policies have helped maintain macroeconomic stability, although the financing mode of the continuing...

This 2014 Article IV Consultation highlights that the Serbian economy is facing serious challenges. GDP contracted by an estimated 2 percent in 2014 on account of continued falling domestic demand aggravated by floods, and weak economic activity in trading partners. This, together with the low...

Uganda has benefited from international reserve accumulation. The fiscal stance is tighter mainly owing to delays in execution of a large hydropower project. A suspension of budget support owing to theft of donor funds has curtailed spending plans and hurt growth prospects. The authorities have...

This Selected Issues paper focuses on constructing a high-frequency economic growth indicator for Suriname. Most economic data for Suriname are available only with a substantial time lag and on a low-frequency basis, impeding such analyses. This paper presents a simple econometric model that...

KEY ISSUES Context: Moderate growth is continuing; however credit and wage growth are weak. The level of nonperforming loans (NPLs) remains high and public debt has risen sharply in recent years. Fiscal policy: Medium-term funding needs to roll over existing debt and to fund budget deficits are...

Singapore’s economy is slowing against the backdrop of a deteriorating external environment and a softening of exports. The main near-term risks are a protracted slowdown in advanced economies and a sharp increase in global financial stress. Given Singapore’s openness, these shocks...

After recovering rapidly from the Great Recession, the Canadian economy has slowed down in 2012. Growth weakened in the first three quarters of 2012, and recent indicators have suggested that the pace of economic expansion remained subpar in the fourth quarter. The fiscal policy has continued to...

This note compares patterns of domestic investment in Serbia with those in other central and eastern European countries, noting the relationships with external balances. The structure of participation and employment rates suggests a need for analysis of the impact of labor market institutions on...

Program implementation and economic fundamentals continue to be strong, but the external position weakened in mid-2014. Projected growth for 2014 has been revised down to 2.8 percent from 3.7 percent, due to weaker demand for Seychelles’ two main exports—tourism and canned tuna. At...

Despite the difficult global environment, economic growth in Mozambique has remained buoyant. Inflation has come down more rapidly than anticipated. Foreign direct investment in the natural resource sector has resulted in rapid import growth. The contribution of coal production and exports and...