This paper examines Argentina’s Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria. The economy is recovering rapidly, while inflation remains subdued. Strengthening consumer and business confidence and cautious monetary and...

Finland has undergone a fundamental structural shift from a resource-based to a knowledge-based economy. The productivity surge in the dynamic information and communications technology sector fueled a strong export-driven recovery. However, the optimism of the past year has dissipated, as the...

This paper examines Sierra Leone’s 2004 Article IV Consultation, the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Waiver of Performance Criteria. Growth prospects in the medium term are encouraging, largely based on some mining projects coming to...

Luxembourg's impressive growth performance has been accompanied by regional specialization of production, high labor mobility, export-propelled growth, and the dominance of regional growth fluctuations. Luxembourg's public pension system faces the challenges of population aging and Luxembourg's...

This Report evaluates the Observance of Standards and Codes on the Payment Systems for the Philippines. The assessment confirms that the infrastructure for effective supervision has improved considerably in recent years. Although important gaps exist, compliance is overall quite high. The...

This Selected Issues paper and Statistical Appendix examines the possible policy responses of Algeria to the reduction of fiscal revenue and the deterioration of the external balance, and more generally the negative wealth effect on the country, stemming from the decline in oil prices. The paper...

This 1999 Article IV Consultation highlights that since the early 1990s, Barbados has been experiencing steady economic growth founded on prudent economic management and generally favorable external conditions. Economic policy has incorporated fiscal and wage restraint, consistent with the...

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.

This paper assesses Bulgaria’s 2002 Article IV Consultation, First Review Under the Stand-By Arrangement (SBA), and a Request for Waiver of Non-observance and Waiver of Applicability. The authorities’ structural reform program is ambitious, but implementation needs to be stepped...

This 1999 Article IV Consultation highlights that the Netherlands posted a strong economic performance during the 1990s, based on sound macroeconomic policies and complementary and interlocking reforms to fiscal policy, social security, and labor and product markets. Robust real GDP growth was...