This 2016 Article IV Consultation highlights that the macroeconomic outlook for Tuvalu is stable. Real GDP growth in 2015 is estimated at 2.6 percent and is projected to rise to 4 percent in 2016 owing to several large infrastructure projects and recovery spending following Cyclone Pam....

This paper discusses Pakistan's Twelfth and Final Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Proposal for Post-Program Monitoring. The authorities met most PCs at end-June 2016, but the PCs on the budget deficit and Net Domestic...

This 2016 Article IV Consultation highlights that real GDP growth in Saudi Arabia is expected to slow to 1.2 percent in 2016, but recover to 2 percent in 2017 as the pace of fiscal consolidation eases. Inflation has risen in recent months to more than 4 percent owing to increase in energy and...

This 2016 Article IV Consultation highlights that Palau's economy has performed well in recent years. The economy grew strongly in FY2015 (ending September 30, 2015) at 9.4 percent, with tourist arrivals and construction activity expanding by 35 percent. However, the rapid rise in tourism...

This 2016 Article IV Consultation highlights that Vanuatu's economy is gradually recovering from the extensive damages caused by Cyclone Pam, which hit the country in March 2015. The cyclone led to a decline in GDP of about 0.8 percent in 2015. The current account deficit widened to 11 percent...

This 2016 Article IV Consultation highlights Panama's expected continued growth-among the strongest in Latin America-against a backdrop of low inflation, a stable financial system, and a declining current account deficit. GDP grew by 5.8 percent in 2015, and growth is projected to remain at...

This 2016 Article IV Consultation highlights that the economy of Belize is facing multiple challenges. GDP growth slowed to 1 percent in 2015 owing to falling oil production and reduced output in the primary commodity sectors, and turned to negative 1.5 percent in the first half of 2016 relative...

Since late 2014, Moldova's economy has been hit by a number of domestic and external shocks. Chief among them is the exposure of extensive and well-orchestrated fraud in the banking system, resulting in the closure of three banks at a public cost of 10 percent of GDP. During the following...

This paper discusses Jamaica's Request for Stand By Arrangement (SBA) and Cancellation of the Current Extended Arrangement Under the Extended Fund Facility (EFF). Fiscal discipline and proactive debt management have helped reduce public debt by more than 25 percent of GDP since the start of the...

This paper discusses Cote D'Ivoire's Requests for an Extended Arrangement Under the Extended Fund Facility (EFF) and an Arrangement Under the Extended Credit Facility (ECF). Extending the gains of 2015, solid economic and fiscal performance continued in 2016. Strong investment and private...