This 2009 Article IV Consultation highlights that Jordan’s money and financial markets have weakened since mid-2008. Bank deposits edged down slightly in October but subsequently recovered, with the share of dinar deposits continuing to increase. Executive Directors have noted that sound...

This paper discusses key findings of the Third Review under the three-year arrangement for Grenada. All end-2008 quantitative targets were met. Meeting structural benchmarks on submitting investment legislation and a new Excise Bill and on completing a Country Poverty Assessment has been delayed...

This 2009 Article IV Consultation underlies that following a decade of high economic growth and significant poverty reduction, Cambodia’s economy has been hard hit by the global crisis. Real GDP is contracting as key sectors falter—export and tourism receipts have fallen off...

This report provides an assessment of fiscal transparency practices in Serbia in relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency. Serbia has made solid advances in fiscal transparency in recent years, but there are still some major shortcomings. This report...

This 2009 Article IV Consultation highlights that despite its resilience so far, the economy of Cyprus is slowing down and risks are increasing. The expected slowdown will increase credit risk in banks, which, in some plausible but unlikely extreme scenarios, could have systemic implications...

This 2009 Article IV Consultation highlights that like other open economies, Korea was hard hit by the global financial crisis during the last quarter of 2008. The authorities responded with a timely and comprehensive set of financial market and macrostabilization measures. Executive Directors...

Indonesia entered the current global crisis with strong initial conditions. This 2009 Article IV Consultation highlights that notwithstanding the initial impact of the global crisis, the economy has rebounded in 2009. Macroeconomic policy responses have kept appropriate pace with the evolving...

Kuwait’s economy continued to perform strongly in 2008, although signs of weakness emerged in the second half of the year. The authorities’ key challenge in the near term is to preserve financial stability and cushion the impact of the global slowdown. Executive Directors have...

This 2008 Article IV Consultation discusses that real GDP growth in Namibia is expected to moderate to about 3 percent in 2008 from 4.1 percent in 2007, reflecting a downturn in the mining sector owing to the global economic slowdown. Executive Directors have commended the authorities’...

This report provides a reassessment of fiscal transparency practices in Estonia in relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency. It presents a description of practices prepared by IMF staff on the basis of discussions with the authorities and their...