This paper discusses Armenia's Fourth Review Under the Extended Arrangement and Request for Modification of Performance Criteria. Growth is expected to reach about 2.5 percent in 2016, as the external environment continues to be weak and the effects of past positive one-off factors dissipate....

This paper discusses Iraq's First Review of the Three-Year Stand-by Arrangement (SBA) and Financing Assurances Review, and Requests for Waivers of Nonobservance and Applicability of Performance Criteria (PCs). Two PCs at end September appear to have been met on the basis of preliminary unaudited...

This 2016 Article IV Consultation highlights that GDP growth in Chile has been weak, with activity slowing in October. However, conditions are in place for the economy to recover. After expanding by a moderate 1.7 percent in 2016, growth is forecast to increase to 2 percent in 2017. Faster...

This paper discusses Mali's Sixth Review Under the Extended Credit Facility Arrangement and Request for Modification of a Performance Criterion. Economic activity in Mali remains robust, aided both by higher public investment and accommodative monetary conditions. Inflation remains subdued,...

This paper discusses Sri Lanka's First Review Under the Extended Arrangement Under the Extended Fund Facility (EFF) and Request for Modification of Performance Criterion (PCs). Performance under the program has been largely satisfactory. All end-June quantitative PCs were met, together with all...

This paper discusses Guinea's Eighth and Final Review Under the Extended Credit Facility (ECF) Arrangement and Financing Assurances Review, and Request for Extension of the Current Arrangement. Guinea's medium-term economic prospects are good. Growth is projected to average 5 percent during...

This paper discusses Chad's Third and Fourth Reviews Under the Extended Credit Facility (ECF) arrangement, and Requests for Waivers of Nonobservance of Performance Criteria (PCs), Augmentation of Access, Extension of the Current Arrangement, and Rephasing of Disbursements. The authorities in...

This 2016 Article IV Consultation highlights that the real output of Honduras in 2015 grew at 3.6 percent, slightly higher than projected. From the demand side, growth was supported by the recovery in private consumption-which responded positively to a reduction in gasoline prices and strong...

This paper focuses on Ireland's 2015 Fourth Post-Program Monitoring Discussions. Ireland's economy continues to improve at a robust pace. Real GDP expanded by 7 percent year-over-year over the first three quarters of 2015, with investment providing the largest contribution to growth followed by...

The ongoing controversy about whether or not the FVA and KVA should be an adjustment to fair valuation originates from the attempt to shoehorn metrics quantifying market incompleteness into the traditional valuation paradigm based on complete markets. After reviewing the concept of fair...