The role of foreign aid in the growth process of developing countries has been a topic of intense debate. Foreign aid is an important topic given its implications for poverty reduction in developing countries.Since the second World War, foreign aid has been one of the most prominent policy tools...

This paper discusses Rwanda's First Review of the Standby Credit Facility (SCF) Arrangement and Sixth Review Under the Policy Support Instrument (PSI), Request for Waiver and Modification of Performance and Assessment Criteria. Performance under the PSI and SCF-supported programs remains on...

This paper discusses Central African Republic's First Review of the Arrangement Under the Extended Credit Facility (ECF), Financing Assurances Review and Request for Waiver of Nonobservance of Performance Criterion (PCs). Program implementation through the end of August has been satisfactory....

This paper discusses Egypt's Request for Extended Arrangement Under the Extended Fund Facility (EFF). The EFF-supported program will help Egypt restore macroeconomic stability and promote inclusive growth. The risks to the program mainly emerge from the difficulties inherent in implementing a...

This paper discusses Kenya's First Reviews Under the Twenty-Four Month Stand-by Arrangement (SBA) and the Arrangement Under the Standby Credit Facility and Requests for Waivers of Applicability, Rephasing of Disbursements, and Modification of Performance Criterion (PC). Macroeconomic...

This paper discusses Seychelles' Fourth and Fifth Reviews under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria. All performance criteria as of December 31, 2015, and June 30, 2016, were met, and the macroeconomic program remains broadly...

This paper discusses Kosovo's Second and Third Reviews under the Stand-by Arrangement, and Request for Program Extension. Economic performance remains positive, with growth estimated at 3.5 percent in 2016 and projected at similar levels in 2017. Fiscal deficits remain contained, with strong tax...

This paper discusses Jamaica's First Review under the Stand-by Arrangement (SBA), Request for Waiver of a Performance Criterion (PC), and Request for Modification of PC. Program implementation remains strong under the SBA. Sustained macroeconomic discipline and visible reforms have boosted...

This paper discusses Benin's Request for a Three-Year Arrangement under the Extended Credit Facility. The new program aims to create fiscal space by stepping up domestic revenue mobilization and enhancing the efficiency of government spending; gradually increasing absorptive capacity to scale up...