This Selected Issues paper explores the monetary policy transmission channels in Algeria and analyzes available options to strengthen monetary policy effectiveness. High liquidity has been the hallmark of the Algerian monetary policy framework for most of the 2000s. The paper assesses the impact...

This Selected Issues Paper carries out an empirical analysis of the effects of policies and external shocks on economic activity in Suriname. The estimates are broadly consistent with prior empirical findings. The results reveal a strong contemporaneous correlation between credit and demand,...

This Selected Issues Paper analyzes the fiscal position and significant challenges for Luxembourg. Luxembourg’s fiscal position is currently sound, however, fiscal safety buffers are being eroded. The country’s healthy fiscal position will be challenged by forthcoming revenue...

This 2013 Article IV Consultation highlights that good macroeconomic performance and active social policies since the mid-2000s have helped Bolivia to nearly triple income per capita and reduce poverty. The economy benefited from high international commodity prices and rising volumes of natural...

This 2013 Article IV Consultation highlights Nigeria’s poverty and income inequality that remain high and social and governance indicators that are below averages for sub-Saharan Africa. Growth is expected to remain strong, driven by agriculture, trade, and services. Inflation should...

KEY ISSUES Context. Cameroon’s macroeconomic outlook and risks have deteriorated slightly since the Article IV consultation in 2013. Economic activity has remained strong and inflation subdued, but the fiscal position has worsened; public debt has been rising at a less sustainable pace;...

This 2014 Article IV Consultation highlights that with subdued international prices, inflationary pressures in Mauritius declined in 2013, despite the public sector wage increases. The unemployment rate was unchanged compared with 2012 at 8 percent. Credit to private sector growth remained...

This 2013 Article IV Consultation highlights that after significant real economic growth volatility and high inflation through 2009, growth in Democratic Republic of São Tomé and Príncipe has become more stable and inflation has reached record low levels. Real economic growth slowed to 4...

This 2013 Article IV Consultation highlights that economic activity in Cambodia remained strong in 2013 driven by robust exports, with garment exports helped by preferential access to European Union, and tourism with more diversified destinations. Real estate and construction also expanded,...