This 2008 Article IV Consultation highlights that rapid domestic demand growth in Ukraine pushed the economy beyond its capacity in 2007–08, leading to accelerating inflation. The demand expansion, fed by fiscal and income policies and a capital-inflow driven surge in money and credit...

This paper presents key findings of the Sixth Review for Tajikistan under the Extended Credit Facility. Real GDP growth for 2011 reached 7.4 percent, driven mainly by agriculture, construction, and services. The authorities plan to maintain a conservative fiscal stance in line with the...

This Selected Issues paper for Suriname describes the structure of the financial system, and provides a preliminary assessment of the conditions of the banking system. It highlights the need for a comprehensive public sector reform, targeting both the civil service and the public enterprises,...

This paper focuses on the Islamic Republic of Mauritania’s Sixth Review Under the Poverty Reduction and Growth Facility (PRGF) and a Request for Waiver of Performance Criterion. Performance under the PRGF-supported program remained strong in 2002. All the quantitative and structural...

Rwanda’s Second and Third Reviews under the Poverty Reduction and Growth Facility, and request for Waiver of Performance Criteria are discussed. After an extended period characterized by a strong expansion of economic activity, real GDP growth is estimated by IMF staff to have slowed to...

Vietnam's macroeconomic performance has been strong, fueled by strong export performance, poverty reduction, and domestic investment. Executive Directors welcomed this development, and stressed the need for strong monetary, exchange rate, and fiscal policies. They appreciated the prudent...

This 2004 Article IV Consultation highlights that Zimbabwe’s real GDP declined by 9.3 percent in 2003, and an additional broad-based decline is projected in 2004. Year-over-year inflation reached 600 percent during November 2003–February 2004. However, monthly inflation, which had...

This paper examines Pakistan’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver and Modification of Performance Criteria. Although most reforms were broadly on track, there were setbacks in energy sector reforms,...