A 28-month Stand-By Arrangement (SBA) for the Dominican Republic was introduced against the global recession. The main objective of the program is to limit the procyclicality of policies. The countercyclical macroeconomic program improved confidence and fostered aggregate demand. Monetary policy...

This paper discusses Togo’s progress under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In November 2008, the Boards of Executive Directors of the IDA and the IMF agreed that Togo had met the requirements for reaching the decision point under the Enhanced HIPC...

This paper discusses Congo’s progress under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). In the view of the staff of IDA and the IMF, Congo has met in full all of the triggers for reaching the completion point. All key decisions, actions, and measures required to...

According to IMF and IDA authorities, Guinea-Bissau had met the requirements for reaching the decision point under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The authorities appreciated the country’s tremendous efforts to reestablish economic, social, and...

This paper discusses Haiti’s progress under the Enhanced Initiative for Heavily Indebted Poor Countries. Substantial advances have been made toward meeting the four triggers not fully implemented, and the authorities are committed to further progress in the near future. These triggers...

The rebound in inflation since mid-2007 is mostly owed to a jump in food prices in Paraguay. The price volatility of fruits and vegetables explains the divergence between headline and core inflation indicators observed in 2007. Following a decline that started in 2006, core inflation has risen...

Improvements in macroeconomic conditions are encouraging, and the current macroeconomic framework for 2006 and 2007 remains valid in Paraguay. The strong fiscal performance has applied also to the rest of the public sector. The authorities have submitted a budget proposal for 2007 that preserves...

The recent tightening of credit conditions in segments of mature financial markets abroad has not had an impact on Paraguay. The current mix of macroeconomic policies combined with favorable external conditions and the appreciation of the guaraní, have facilitated strong program performance and...

This paper presents the Islamic Republic of Afghanistan’s decision point and debt sustainability analysis under the Enhanced Heavily Indebted Poor Countries Initiative. Protracted conflict and political instability have undermined Afghanistan’s socioeconomic development, resulting...

This 2006 Article IV Consultation highlights that economic developments in Trinidad and Tobago continue to be underpinned by a favorable international environment. Surging energy prices, the exploitation of new gas fields, and an expansion of industrial capacity helped sustain robust economic...