This detailed assessment report focuses on antimoney laundering and combating the financing of terrorism (AML/CFT) for Armenia. The report reveals that Armenia’s financial system remains small and bank dominated. Total assets of the banking sector accounted for approximately 91 percent of...

This 2008 Article IV Consultation highlights that Egypt's economic performance since 2004 has been generally impressive, underpinned by a supportive external environment and the structural reform program that has included the liberalization of foreign trade, investment, and the exchange market....

This paper focuses on the Fourth Review for Burkina Faso under the Poverty Reduction and Growth Facility program. All quantitative performance criteria were met, notably the targets for the fiscal deficit, revenues, and social expenditure. The authorities reiterated their commitment to reforming...

This 2013 Article IV Consultation highlights that in the aftermath of the global financial crisis, growth in Bulgaria has remained low and unemployment is high. Real GDP growth is projected at about 0.5 percent in 2013 as domestic uncertainties undermined demand but exports are performing well....

As in other advanced economies, there has been a significant run-up of household debt in Sweden during the last two decades accompanied by rising housing prices, prompting concerns about sustainability and the implications for financial stability. The rise in household debt and the banking...

Spain’s economy is facing severe challenges. Financial market tensions increased sharply in the wake of the Greek crisis. Policy should focus on rebalancing of the economy and securing market confidence. Ambitious fiscal consolidation is under way, but achievement of the targets needs to...

Discussions centered on the preparations for the 2015/16 budget, and reforms to strengthen the financial sector and boost growth. The authorities have deepened their efforts in supporting their ambitious fiscal goals by strengthening public financial management and revenue administration, and...

Papua New Guinea’s economic performance has strengthened since the last Article IV Consultation. The country has significant underlying vulnerabilities. The economy is exposed to commodity price shocks, and mineral production is expected to decline over the medium to longer term. However,...

The staff report for Albania’s Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility is presented. The economy has achieved robust noninflationary growth, albeit with increasing external imbalances, and has begun to tackle longstanding problems in...

Mexico’s two main economic policy challenges are to fully entrench stability and to remove remaining obstacles to economic growth, necessary to end poverty. The floating exchange rate policy continues to serve Mexico well. An essential part of Mexico’s stability is the resilience...