Malta weathered the global recession relatively well. Real estate prices and collateral values experienced some correction and appear to have stabilized more recently, but excess supply likely remains in segments of the market. Continued progress with structural reforms will also be important to...

The Czech economy has rebounded from the downturn owing to its strong fundamentals and the global recovery. Domestic demand has become self-sustaining since mid-2010. Fixed investment grew moderately in the second half of 2010, mostly on account of one-off factors. GDP has grown by 2.3 percent...

Domestic demand is expected to remain the engine of growth in France, with net exports playing a minor role in the near term. Risks to the outlook are tilted to the downside. Boosting potential growth requires a comprehensive strategy. The consolidation targets set out in France’s...

Italy’s economic development after the recession is analyzed in this study. Earnings were hampered by low net interest and high loan-loss provisions, but banks remained profitable. A large and stable retail funding base and ample collateral to access eurosystem refinancing helped Italian...

In this study, economic growth and development of Nigeria after the crisis is discussed. Nigeria’s economy is projected to grow by 7 percent in 2011. Near-term risks to growth mostly relate to domestic factors. Nigeria’s strong external position and low debt helped mitigate the...

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...

The policies in a challenging political and economic environment are discussed in this study. The importance of reforms to enhance the budget process, tax administration, and expenditure control is encouraged. A higher growth path will require far-reaching structural reforms to bolster Comoros's...

This study is carried out against a backdrop of deep divisions in Greece and in Europe over how to handle the challenges now confronting Greece. Greece’s deeper medium-term policy needs and identifying ways to replace the expected market financing are discussed. Structural reforms tackled...

In this study, Greece’s economic program has progress toward its sustainable growth by boosting competitiveness, strengthening financial sector stability, and securing sustainable public finances. The fiscal and broader reforms are to achieve the program’s medium-term objectives....

Benin, a member of the CFA franc zone, has experienced uneven economic progress over the last several decades. It has a long history of engagement with the IMF. This ex post assessment update covers primarily the implementation of the program supported by the 2005–09 poverty reduction...