This paper discusses a request from Samoa's authorities for a Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (ESF-RAC). The tsunami that hit Samoa on September 29, 2009 has undercut Samoa’s economic resilience and prospects for a quick recovery from the...

Recent developments in the Comoros point to slow, uneven, yet significant progress in political normalization. Overall performance under the Extended Credit Facility-supported program has been broadly satisfactory. The government understands the need to continue fiscal consolidation in support...

This paper explains Burundi’s Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). Burundi’s social indicators reflect the effects of poverty compounded by decades of violence. The government’s Interim Poverty Reduction Strategy Paper (I-PRSP) is based on broad...

This paper proposes a new empirical measure of cooperative versus conflictual crisis resolution following sovereign default and debt distress. The index of government coerciveness is presented as a proxy for excusable versus inexcusable default behaviour and used to evaluate the costs of default...

This paper focuses on Mali’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility. Mali’s economic situation improved in 2003, in spite of a difficult regional environment. The IMF staff considers that the government’s medium-term program,...

This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the...

Benin’s Fifth Review under the Poverty Reduction and Growth Facility and request for waiver of Nonobservance of Performance Criteria are discussed. The main challenge ahead is to limit inflation pressures from higher food and fuel prices while sustaining medium-term fiscal consolidation...

This paper presents an assessment of the Central African Republic’s (C.A.R) qualifications for assistance under the Enhanced HIPC Initiative. Stronger policy implementation has helped the economic growth of the C.A.R. under the Poverty Reduction and Growth Facility (PRGF) arrangement....

Papua New Guinea’s economic performance has strengthened since the last Article IV Consultation. The country has significant underlying vulnerabilities. The economy is exposed to commodity price shocks, and mineral production is expected to decline over the medium to longer term. However,...

This paper discusses key findings of the Second Review Under the Staff Monitored Program (SMP) for Mauritania. Mauritania’s performance since the beginning of 2006 has been fully satisfactory. All quantitative targets and structural benchmarks under the SMP that covered the first six...