This 2013 Article IV Consultation highlights that after significant real economic growth volatility and high inflation through 2009, growth in Democratic Republic of São Tomé and Príncipe has become more stable and inflation has reached record low levels. Real economic growth slowed to 4...

EXECUTIVE SUMMARY The first chapter on monetary policy transmission examines the channels through which innovations to policy variables—policy rate or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy...

This paper discusses Côte d’Ivoire’s Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility (ECF) and Requests for Modification of Performance Criteria (PC) and Extension of the Current Arrangement. Program performance has been strong. All end-December PCs and all...

Niger’s Fourth Review Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria are examined. Economic growth in 2006 has been satisfactory at 4.8 percent, owing to a good harvest for the second year in a row, and strong mining,...

This paper discusses key findings of the Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Tanzania. Economic growth, inflation, and the external position have evolved in a manner consistent with program objectives, and the program has...

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...

This paper discusses key findings of the Seventh Review Under the Poverty Reduction and Growth Facility (PRGF) for Dominica. Policy implementation under the program has remained strong. All end-June 2006 performance criteria were met, and all indicative targets for end-June and end-September...

This paper discusses key findings of the 2006 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility for Niger. Macroeconomic performance and policy implementation have been broadly satisfactory. After a drought in 2004, a bumper harvest in late 2005 and good...

This paper discusses a Request from Albania for a Three-Year Arrangement under the Poverty Reduction and Growth Facility (PRGF). This arrangement aims to prepare Albania for graduation from IMF-supported programs. If properly implemented, the policies it embodies will reduce vulnerabilities,...

Dominica showed a commendable progress under the Poverty Reduction and Growth Facility (PRGF) program. Executive Directors welcomed the strong macroeconomic performance, fiscal adjustment, and collaborative debt restructuring effort. They appreciated the introduction of a value-added tax (VAT)...