This paper discusses key findings of the First Review for Seychelles under the Stand-By Arrangement. Developments under the program at end-December 2008 were broadly satisfactory. Although growth was lower and inflation higher than targeted in 2008, the liberalization of the exchange regime and...

This paper discusses key findings of the Sixth Review under the Policy Support Instrument (PSI) for Cape Verde. Policy implementation under the PSI-supported program continues to be strong; all PSIs quantitative targets except for one at end-December 2008 were met. In 2009, real GDP growth is...

This paper presents key findings of the Second and Third Reviews for Gabon under the Stand-By Arrangement. Performance under the program has been mixed. Non-oil economic growth was robust prior to the onset of the international financial crisis, spurred by high oil and commodity prices. However,...

This paper discusses a request from Angola for a Stand-By-Arrangement (SBA). The requested SBA aims to support orderly policy adjustments to restore macroeconomic balances and rebuild international reserves. This program also includes a focused reform agenda aimed at medium-term structural...

This paper discusses key findings of the Sixth Review under the Poverty Reduction and Growth Facility for Benin. Benin’s macroeconomic outlook is weaker for 2009–10, reflecting the impact of the crisis. The implementation of structural reforms needs to be accelerated to enhance the...

This paper presents key findings of the Second Review for Seychelles under the Stand-By Arrangement. The program is on track, and macroeconomic stabilization has advanced rapidly. The authorities are implementing the program with determination and a high degree of ownership. All quantitative...

This 2009 Article IV Consultation discusses that a nascent recovery in Togo’s economy is expected to be offset in 2009 by the impact of the global recession. The authorities have reiterated their commitment to the Poverty Reduction and Growth Facility (PRGF)-supported program and aim to...

This Joint Staff Advisory Note on the Republic of Tajikistan’s Poverty Reduction Strategy Paper discusses economic development and policies. The authorities are working on enhancing Tajikistan’s investment climate through a range of measures, including through eliminating...

This paper discusses key findings of the Sixth Review for Uganda Under the Policy Support Instrument. Structural rigidities continue to pose challenges to macroeconomic management in Uganda. Persistent weaknesses in project implementation coupled with rigidities in domestic financial markets...

This paper discusses key findings of the Second Review Under the Stand-By Arrangement (SBA) for Armenia. The authorities met all quantitative performance criteria for end-June and end-September, with the exception of the end-September fiscal balance. All structural benchmarks for end-June and...