In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Over the last decade, the Eastern Caribbean Currency Union (ECCU) macroeconomic performance has deteriorated relative to the rest of the Caribbean. Tourism accounts for three-fifths of exports, and the import content of consumption and investment is high. The ECCB-operated quasi-currency board...

This paper discusses Seychelles’ Eighth Review Under the Extended Arrangement. Economic growth and macroeconomic stability improved in 2013. A robust rise in tourism earnings supported growth, as well as a reduction in the current account deficit as a share of GDP. All performance...

This 2007 Article IV Consultation highlights that Jamaica’s economy is estimated to have achieved its best growth performance in over a decade during FY2006/07, which ended on March 31, 2007. Notwithstanding some recent moderation of momentum, the economy is estimated to have expanded by...

In Tonga, the fiscal position has strengthened but vulnerabilities remain. Directors have welcomed Tonga’s recovery from the global crisis but noted remaining vulnerabilities and a high debt burden. With downside risks clouding the outlook, Directors have emphasized the importance of...

Burundi is emerging from more than a decade of civil conflict that started with the 1993 coup d’état against its first elected government. Macroeconomic developments in 2005 were broadly in line with the Poverty Reduction and Growth Facility (PRGF) program, although growth was lower at about...

This Article IV Consultation reports that the overall balance of the central government of Paraguay is expected to be in equilibrium, while the central bank intends to withdraw excess liquidity as necessary to limit inflation to no more than 5 percent. Executive Directors commended the...

Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened...

The demand pressures associated with the large terms-of-trade gains are reflected in a fast real appreciation of the ruble, although more of this has come through nominal appreciation during the last year. The risks to the outlook are evenly balanced and depend mostly on oil price developments....

Budget revenue in FY2006/07 amounted to 42 percent of GDP, with hydrocarbon revenue mirroring rising oil prices. The current account recorded a surplus of about 31 percent of GDP in 2006. Monetary conditions were characterized by ample liquidity and strong credit growth. Qatar’s...