Bolivia’s 2007 Article IV Consultation reports that reforms are needed to make the budget a more effective developmental and poverty-reducing tool. The fiscal position has shifted into a substantial surplus, and public debt has been substantially reduced. Financial sector stability has...

The ex-post evaluation of Iceland’s Exceptional Access under the 2008 Stand-By Arrangement is presented. In the wake of the global financial crisis in late 2008, Iceland has experienced a deep financial and economic crisis of its own. Domestically, the rapid increase in lending fuelled...

Djibouti’s 2007 Article IV Consultation focuses on the medium-term growth prospects and policies necessary to ensure that growth is broad based and accompanied by sufficient employment creation. Real GDP growth is estimated at 4.8 percent in 2006, driven by fiscal expansion, and a sizable...

The staff report for the 2006 Article IV Consultation on St. Vincent and the Grenadines highlights economic prospects and the fiscal situation. St. Vincent and the Grenadines is a small, open economy that has increasingly relied on its tourism sector. The export-oriented services sector accounts...

The report provides the IMF's projections and estimates on the Republic of Congo's basic data and social indicators; gross domestic product at constant 1990 prices and current prices; supply and use of resources at constant 1990 prices and current prices; savings and investment balances; central...

El Salvador has made major strides on several fronts since the peace accords of 1992. The near-term outlook has strengthened, although challenges remain. The authorities are intended to limit tax exemptions and subsidies, and raise priority of banking reforms this year. Discussions focused on...

This paper discusses Bangladesh’s Third Review Under the Extended Credit Facility and Request for Modification of Performance Criteria. Political uncertainty and nationwide strikes are taking a toll on economic activity, with private investment most affected. Real GDP growth moderated in...

Satisfactory implementation of the economic program supported by the Policy Support Instrument has helped Rwanda during the global economic downturn. The program focuses on maintaining a sustainable fiscal position; strengthening monetary and exchange rate policies; and supporting growth with...

This 2010 Article IV Consultation highlights that the authorities’ adjustment program has contributed to limiting the fallout of the global crisis on Serbia. Although the output slump has been limited relative to regional peers, the decline in domestic demand has been significant,...

Angola has made significant progress toward economic stabilization. Under the Stand-By Arrangement (SBA), the government’s key fiscal anchor is the non-oil primary fiscal deficit (NOPD), and the revised 2010 budget is determined to avoid any increase in the non-oil primary deficit. Policy...