This Country Program Evaluation assesses the World Bank Group’s support to Indonesia between FY 2013 and FY23. The evaluation period included three country strategies: the FY13–15 Country Partnership Strategy (CPS), the FY16–20 Country Partnership Framework (CPF), and the ongoing FY21–25...

This paper provides a comparative analysis of the economic crises in Argentina and Lebanon to derive policy-relevant lessons for the design of IMF-supported adjustment programs in fragile economies. Using a structured comparative case study approach, the study examines crisis dynamics, policy...

This Country Program Evaluation reviews the World Bank Group’s engagement in Ethiopia during FY2013–FY2023 across three distinct periods: rapid growth with rising macroeconomic imbalances and political unrest (FY13–FY18); government-led openings to economic reform (FY19–FY20); and...

Russia’s war in Ukraine continues unabated, despite international efforts to broker a peace settlement. Nearly four years of full-scale war have taken a staggering social, humanitarian, and economic toll, with real GDP in 2025 estimated at about 20 percent below pre-war levels. The authorities...

The economy of Cabo Verde has been growing at a fast pace over the last four years. The authorities have maintained macroeconomic stability and advanced reforms, though climate risks, SOE pressures, and global uncertainties remain. Economic growth is projected at 5.2 percent in 2025, following...

Despite headwinds from energy shortages and declining prices for key export commodities, the recovery gained further momentum in 2025, underpinned by robust domestic demand. After peaking in March, inflation steadily declined on the back of lower import prices and improved supply conditions....

The first review of the ECF was delayed amid program slippages last year. The authorities exceeded the 2024 budget deficit by a sizable margin, and the BSL helped finance the overruns. At the same time, higher-than-expected government spending on imports and energy subsidies substantially...

Côte d’Ivoire’s economy continues to show resilience, supported by the restoration of fiscal and external buffers. The EFF/ECF-supported program approved in May 2023 (400 percent of quota) has largely eliminated macroeconomic imbalances and safeguarded a moderate risk of debt distress....

Economic growth slowed to 6.3 percent in 2024 (compared to 6.8 percent in 2023), reflecting a sluggish extractive sector and is projected to slow further to 4.2 percent in 2025 due to an expected contraction in the extractive sector and a slowdown in the non-extractive sector. Inflation is...