Morocco’s sound economic performance has been challenged by domestic and external shocks. The Precautionary and Liquidity Line (PLL) program is on track, and its design remains adequate. The fiscal consolidation and efforts to rebuild buffers and address medium-term challenges taken up by...

This 2013 Article IV Consultation highlights that over the past year, Mexico has maintained macroeconomic policy continuity, while pursuing an ambitious agenda of growth-enhancing reforms. Reforms have already been approved to upgrade education, make labor markets more flexible, and foster...

This 2013 Article IV Consultation highlights that Sudan’s economic performance in 2012 was unfavorable despite the introduction in June 2012 of a package of reforms. Non-oil real GDP growth slowed to 4.6 percent, inflation rose to 44.4 percent by the end of the year, and the gap between...

This 2013 Article IV Consultation highlights that recent macroeconomic developments in The Federal Democratic Republic of Ethiopia are encouraging, with a significant deceleration in inflation and continued robust economic growth. Despite significant decline in coffee prices and supply...

Benin has made significant progress in consolidating macroeconomic stability under the IMF-supported program. Its prudent fiscal policy has kept fiscal deficits at manageable levels and is projected to yield a basic primary surplus in 2012. The Executive Board of the International Monetary Fund...

KEY ISSUES<br>Politics: President Bachelet won the Presidential election on a platform to foster<br>inclusive growth and reduce inequality. Her government took office in March 2014 and is launching <br>an ambitious policy agenda that includes important reforms in several areas, including taxation,...

This 2013 Article IV Consultation highlights economic developments and policies in The Bahamas. The paper focuses on policies to secure fiscal, external, and the financial sector stability, and strengthen medium-term growth. It outlines that the authorities need to implement comprehensive...

This 2014 Article IV Consultation highlights that since 2010, the Lesotho’s economy has performed well with the growth of real GDP averaging over 5 percent a year and inflation held to single-digit levels. International reserves have recovered to close to 5 months of import coverage after...

This 2013 Article IV Consultation highlights that the Czech economy, despite its strong fundamentals, is in the midst of a prolonged recession because of the euro area slump and weak domestic demand. A further slowdown in the euro area would exacerbate the situation, creating the risk of lower...

This 2013 Article IV Consultation highlights that the Spanish economy accumulated large imbalances during the long boom that ended with the global financial crisis. Unemployment soared, the fiscal position deteriorated sharply, and funding conditions tightened for both the public and private...