The Second Review under the policy support instrument (PSI) highlights that Senegal’s economy has remained resilient to the global economic turmoil. In line with the authorities’ new Document of Economic and Social Policies for 2011–15, the 2012 economic program supported...

This paper on Cameroon’s Enhanced Heavily Indebted Poor Countries (HIPC) Initiative explains implementation of the poverty reduction strategy and macroeconomic performance. Executive Directors agreed that Cameroon’s external public debt was above the HIPC Initiative sustainability...

The Joint Staff Advisory Note (JSAN) reviews the National Strategic Development Plan (NSDP)—the new Poverty Reduction Strategy Program of Cambodia. It recommends that the institutional arrangements for NSDP should be strengthened to support its implementation and monitoring. It analyzes...

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...

This report on the Observance of Standards and Codes on Fiscal Transparency on Costa Rica analyzes open budget preparation and assurances of integrity. A number of initiatives currently under way would further advance fiscal transparency. A clearer division of responsibilities for monetary and...

This 2009 Article IV Consultation discusses that a nascent recovery in Togo’s economy is expected to be offset in 2009 by the impact of the global recession. The authorities have reiterated their commitment to the Poverty Reduction and Growth Facility (PRGF)-supported program and aim to...

This paper discusses Mali’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). The economy is recovering and inflationary pressures have abated. After a 0.4 percent GDP decline in 2012, Mali’s economy is on the mend. The improvement in the security...

The Growth and Poverty Reduction Strategy Paper III (GPRS-III) will provide a framework for the government’s economic, financial, and sectoral policies for the period 2012–17. All performance criteria (PC) and indicative targets through end-December were observed, except for the...

This paper discusses the Islamic Republic of Afghanistan’s Second Review Under the Poverty Reduction and Growth Facility. Political pressures on tax administration and the granting of concessions to some manufacturers through increased protection on final goods and lower duty rates on raw...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Mali. Implementation of the ECF-supported program has been challenged by the global financial crisis and the ensuing global slowdown. The new program aims to continue prudent fiscal policies and...