This 2011 Article IV Consultation reports that the vulnerability of Belgium’s sovereign debt to market pressures makes credible medium-term fiscal consolidation a priority. The 2012 budget includes sizable consolidation measures, and the government is committed to take additional measures as...

This 2012 Article IV Consultation reports that Palau’s growth is expected to be favorable at 3 percent in FY2012 and to average 2 percent over the medium term. The outlook is clouded by an unsettled global environment, and downside risks dominate. Highly dependent on tourism, imports of food...

This 2011 Article IV Consultation highlights that economic growth in Hungary is slowing and market perception of recent policy measures has been negative. The eurozone crisis is weighing on Hungary’s external demand. Fiscal and monetary policies are facing constraints, given financial market...

This 2011 Article IV Consultation highlights that Qatar is using its fiscal space, generated from an increase in hydrocarbon production and prices, to implement a large public spending program. Large infrastructure investments are expected to sustain strong growth of 9 percent to 10 percent in...

This 2011 Article IV Consultation reports that Cambodia’s high degree of dollarization and largely reduced fiscal space constrain the authorities’ ability to cushion shocks. Macroeconomic stability hinges on prudent fiscal policies. The mission cautioned that fiscal space is limited and that...

This 2011 Article IV Consultation reports that the Philippines is being affected along with other countries in the region by the fragile global environment. The key challenge is to navigate through the period of global uncertainty to maintain macroeconomic stability while building the...

This 2011 Article IV Consultation highlights that the Gambian economy has performed well in recent years, despite a difficult global environment. The external current account deficit has widened in recent years, owing to weak tourism receipts and remittances and high global commodity prices....

The downturn has accentuated strains on the financial system of Anguilla. The 2011 Article IV Consultation highlights that the growth outlook is improving with major tourism projects getting back on course, although a slow recovery is only expected to begin in 2012. Executive Directors have...

Strong fiscal stimulus in Azerbaijan continued in 2011 triggered by unanticipated increases in global oil prices. The 2011 Article IV Consultation highlights that near and medium-term economic prospects are favorable and nonhydrocarbon growth could reach 6 percent in 2012. Executive Directors...

This 2011 Article IV Consultation highlights that the difficult global economic conditions continue to hit Barbados with growth at anemic levels. The current account deficit has widened in recent times owing to higher oil and food prices. Executive Directors commended the authorities for...