This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Burundi. In a difficult post-conflict environment, performance on the ECF-supported program was satisfactory. All quantitative performance criteria for end-September 2009 were met, and structural...

Switzerland was hard hit by the global crisis; however, the 1.5 percent contraction in 2009 compares favorably with most industrial countries. This 2010 Article IV Consultation highlights that after a year-long decline in real GDP, the economy exited the recession in mid-2009. In response to the...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) for the Republic of Congo. Policy implementation through the first half of 2009 was satisfactory. All quantitative performance criteria and all but one of the structural benchmarks were...

This 2009 Article IV Consultation highlights that Malawi’s macroeconomic performance has improved significantly over the past two years, and the country’s agricultural-based economy has weathered the global economic storm relatively well. Good weather and the distribution of...

The Islamic Republic of Iran’s 2009 Article IV Consultation highlights that real GDP growth has slowed following the decline in oil prices, the non-oil fiscal position has become tighter, and banks’ financial situation has weakened. The recent approval of an ambitious energy price...

The political and security focus has shifted from post-conflict needs to consolidating gains on peace and stability. Macroeconomic stability has been re-established, and debt relief has improved the debt sustainability outlook. This enabled a gradual switch in policy priorities toward creating...

Strong fundamentals and countercyclical policies have helped Malaysia during the global financial crisis. Executive Directors welcomed the authorities' challenge to make progress toward economic growth and structural transformation. Directors welcomed the consolidation effort in the 2010 budget,...

Indonesia’s growth in 2009 was four and a half percent, the third highest in the G-20 group of countries; and the pace is accelerating in 2010. Both push and pull factors have attracted large portfolio inflows, particularly into government bonds and Short-term Bank Indonesia certificates...

Economic recovery has gained momentum, and short-term prospects have improved. Program implementation is good. Fiscal consolidation is essential for Burkina Faso’s macroeconomic stability and debt sustainability. Structural reforms remain focused on a few priority areas supporting growth...

This 2010 Article IV Consultation highlights that growth in Peru decelerated sharply in 2009, owing to the global financial crisis, but remained positive at about 1 percent for the year, despite a few months in negative territory. Thanks to the strong buffers built in recent years, Peru was able...