Are IMF growth forecasts systematically optimistic? And if so, what is the role of planned policy adjustments on this outcome? Are program forecasts as biased as surveillance forecasts? We try to answer these questions using a comprehensive database on IMF forecasts of economic growth in...

This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries' reception of IMF policy advice at the time of Article IV Consultations. This paper finds that while authorities of member countries largely agree with Fund advice, there...

This paper aims to study the evolution in the age composition of males' employment in the aftermath of the public sector downsizing in the 1990s -during the Economic Reform and Structural Adjustment Policies - and the new labor law in 2003. This answers the question of whether young (15-29) and...

This paper discusses Central African Republic's (CAR) Request for a Three-Year Arrangement Under the Extended Credit Facility. Consistent with the IMF's Country Engagement Strategy, the IMF-supported program is expected to support the implementation of the peace agreement and of CAR's...

This paper discusses Niger's Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Niger faces daunting development challenges, aggravated by terrorist incursions, climate change, and low uranium export prices. Presidential elections...

This paper discusses Mali's First Review Under the Extended Credit Facility Arrangement, Request for a Waiver of NonObservance of a Performance Criterion and Modification of Performance Criteria. Mali's economic growth has remained solid and the authorities have steadfastly implemented their...

This paper discusses Rwanda's First Review Under the Policy Coordination Instrument (PCI) and Monetary Policy Consultation. Rwanda's macroeconomic performance under the program remains strong. The PCI-supported program focuses on creating budget space for the implementation of Rwanda's National...

This paper discusses Senegal's Request for a Three-Year Policy Coordination Instrument (PCI). The PCI for Senegal is expected to build on the lessons from the previous programs supported by the IMF. It aims to support the authorities' efforts to consolidate macroeconomic stability and foster...

This paper presents Papua New Guinea's (PNG) 2019 Article IV Consultation and Request for Staff Monitored Program. The economy is estimated to have rebounded in 2019 following the contraction triggered by the large earthquake in 2018. Inflation is projected to fall in 2019 but to pick up...

This paper discusses Republic of Madagascar's Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 pandemic is having a severe impact on Madagascar's economy. Due to dramatic declines in tourism and disruptions to manufacturing and extractive industry...