The report provides the third Review of the Republic of Croatia Under the Stand-By Arrangement (SBA). Policies under the SBA have sought to reduce Croatia’s savings-investment imbalance and stabilize the external debt-to-GDP ratio. Executive Directors agreed that the main success of the...

This paper on the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC) for the Republic of Congo explains medium-to-long-term strategy for poverty reduction. Emerging from a conflict situation, and starting from a low base, Congo has made significant progress in implementing...

Grenada quickly recovered from the devastating effects of Hurricane Ivan. Executive Directors welcomed the economic reform program aimed to promote economic growth, restore fiscal and debt sustainability, reduce vulnerabilities, and alleviate poverty. They emphasized the need to strengthen the...

Policy implementation has improved since the completion point. Recent economic performance has been encouraging, but sustaining it will require an acceleration of reforms by the government. Rwanda’s medium-term program aligned with the Poverty Reduction Strategy Program priorities...

This paper presents a preliminary assessment of the eligibility of Haiti for assistance under the Enhanced Heavily Indebted Poor Countries Initiative (HIPC) to attain the Millennium Development Goals (MDGs). It discusses the medium-to-long-term macroeconomic framework, poverty, social, and...

Zambia has achieved robust economic growth over the years, and poverty has begun to trend downward under the Poverty Reduction and Growth Facility Arrangement. Prudent fiscal policy has reduced the domestic financing need and facilitated the implementation of a firmer monetary policy. Executive...

Cape Verde’s economic and policy performance remains sound under the Poverty Reduction and Growth Facility (PRGF) arrangement supported by Policy Support Instrument (PSI). Executive Directors commended the prudent macroeconomic policies and structural reforms. They emphasized the need for...

This paper presents a preliminary assessment of the Kyrgyz Republic’s eligibility for assistance under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. It provides background information on the country’s eligibility under the enhanced HIPC Initiative. It summarizes...

The Latvian economy has made remarkable strides, combining macroeconomic stability with rapid income convergence. An upfront policy tightening is needed to contain near-term overheating and secure a soft landing. Fiscal restraint is needed to counter the sizable demand stimulus already in play....

Economic activity in the Kyrgyz Republic has been buffeted by the political upheaval, and output growth has fallen short of expectations. The program builds on the country’s entrenched fiscal prudence and features a tightening in monetary policy, so as to secure rapid sustained growth in...