This Selected Issues paper investigates the economic importance of institutions in Ukraine, and attempts to quantify the potential benefits of market-friendly structural reforms. The paper reviews some of the key findings of the development-accounting literature, which has tried to explain the...

An important aim of this paper is to take shifts in the long-term anchor in the empirical specifications. The study examines exchange-rate pass-through and external adjustment in the euro area. The impact on third-country trade and investment is also discussed. A better understanding of the...

This paper describes economic developments in Ecuador during the 1990s. Inflation fell from an average of about 50 percent in 1988–92 to 22 percent in April 1995. Economic activity rebounded, and international reserves were rebuilt. Relations with foreign creditors were normalized through...

This 2004 Article IV Consultation highlights that economic activity has been gathering speed in Estonia. Year-over-year growth accelerated to 6.8 percent in 2004 Q1 from 5.8 percent in 2003 Q1, driven by domestic demand and supported by technology sector exports. Inflation accelerated in the...

This 2005 Article IV Consultation highlights that economic activity in Austria gathered speed in 2004, supported mostly by strong export performance. Growth of real GDP rose to 2.2 percent in 2004. Consumption growth was modest, in view of small gains in employment and nominal wage growth barely...

Since the conclusion of the last Article IV Consultation in October 2001, Georgia's macroeconomic performance has been encouraging. The 2003 Article IV Consultation and program discussions were held against the backdrop of protracted deviations from the IMF-supported program. Discussions with...

This report assesses the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) in Chile. Banking secrecy provisions continue to limit the ability of Chile to investigate and...

This Selected Issues paper on Samoa reports that remittances are the main source of foreign exchange to the Samoan economy. In addition to remittances, travel credits also play an important role in the economy. Official transfers are also significant, and should remain an important source of...

This paper describes economic development in Bhutan during 1990s. It highlights that since the 1980s, considerable importance has been placed on developing resource-based industries—spearheaded by large government hydropower, forestry, and mining projects—financed mainly with...

This Selected Issues paper and Statistical Appendix provides medium-term estimates of the cost of the government’s current anti-HTV/AIDS policies and programs in Botswana. The paper throws light on the policy challenges that Botswana authorities face in combating the crisis. The findings...