Ireland has made progress in overcoming the economic crisis. The new coalition government’s strategy for restoring sustained growth, sound public finances, and job creation has been put forward in the context of the European Union/IMF-supported program. On this basis, the government...

Strong policy implementation under the Stand By-Arrangement (SBA) has contributed to Latvia’s economic recovery and put attainment of Maastricht criteria for euro adoption within reach. The government has continued to achieve substantial fiscal savings and strengthened its active labor...

Portugal's economy faced severe crisis during the global economic and financial crisis. In this context, Portugal's authorities have put forward an economically well-balanced program that will focus on structural reforms to boost growth and employment, ensure balanced fiscal sustainability,...

The Indonesian economy proved resilient during the global financial crisis, and has since continued to grow at a robust rate. Increases in both foreign and domestic investment are expected to offset lower growth contributions from net exports as import demand rises. A key risk is deterioration...

Belarus was experiencing an economic crisis after the expiration of a Stand-By Arrangement in March 2010. Its policies were loosened significantly, and consequently the account deficit increased and pressure on reserves intensified. The authorities agreed with the Eurasian Economic...

Kazakhstan’s economic recovery and unemployment rate and other issues are discussed in this paper. The banking and corporate sectors have not recovered from the crisis despite strong economic growth. Ownership and partial financing of the envisaged centralized distressed asset fund by the...

This consultation paper explains that several years of sound macroeconomic policies and political reforms have left Morocco well equipped to address the 2008 international crisis and to respond to pressing social demands. In this challenging environment, Morocco has performed well economically...

The comprehensive program supported by the IMF, the European Union, and the World Bank has helped Romania in stabilizing its economy, reversing imbalances, rebuilding confidence of international financial markets, and setting a sustainable economic growth. Executive Directors appreciated the...

Economic developments and growth of Jamaica are discussed in this paper. Despite the good performance under the program through end-September, mounting spending pressures and delays in some fiscal reforms have required the adoption of corrective measures by the authorities. The authorities...

In this study, economic recovery and growth of Macedonia are discussed. In the financial sector, nonperforming loans (NPLs) rose, and bank profitability declined as a result of the crisis. Executive Directors agreed with the thrust of the staff appraisal. Directors were encouraged by the overall...