Colombia’s economic performance has been strong, aided by sound economic policies. Structural reforms and prudent macroeconomic policy management has contributed to higher economic growth and lower inflation. Executive Directors commended the economic strategy, which has increased...

The IMF staff report on Mexico’s financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified as a prudent and fairly well-managed economy. However, the issues that would...

Ukraine’s economic downturn has been sharper than originally envisaged, mostly reflecting the deterioration of the external environment. The staff report examines Ukraine’s first review under the Stand-By Arrangement, requests for Waivers of Nonobservance of Performance Criteria,...

This Selected Issues paper quantifies the macroeconomic effects of fiscal policy in Spain, focusing on the external sector. It describes the stylized facts of the Spanish economy and presents an econometric analysis. It examines Spain’s growth and productivity performance in relation to a...

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...

The government of Georgia moved forcefully to counter the economic impact of the August 2008 conflict with Russia and global financial crisis. Monetary and prudential policy easing was, however, unable to prevent a sharp credit squeeze. The economy is recovering at a solid pace, with real GDP...

Mongolia has made impressive progress in developing its economy over the past ten years. Medium-term prospects are promising as mining output is projected to expand by more than 20 percent per annum, on average, over the next five years. However, the prospects for sustained, rapid and inclusive...

This 2009 Article IV Consultation highlights that Malaysia has been hit hard by the global downturn. The economy is set to contract for the first time in 10 years. Global turbulence has spilled into the domestic financial markets. Executive Directors have commended the Malaysian authorities for...

Performance of the banking sector during the crisis and challenges are discussed. The impact of the political crisis on the banking sector is outlined. The Kyrgyz Republic is one of the most open economies in the world. Gross international reserves (GIR) in the Kyrgyz Republic have increased...

The economic recovery since 2004 has been accompanied by a steady rise in inflation. Several factors have contributed, including an expansionary monetary stance (with credit to the private sector growing by some 45 percent). Although pleased with the recent improvement of the economy, the...