The staff report for the Second Review Under the Stand-By Arrangement (SBA) on the Republic of Croatia highlights fiscal policy and monetary and financial sector policies. The policy implementation under this SBA has yielded sizable fiscal consolidation and advances in structural reforms,...

This 2006 Article IV Consultation highlights that Georgia’s economy has performed well over the last two years, and the fiscal turnaround has been impressive. Since the change in government in late 2003, Georgia has demonstrated strong fiscal performance and a renewed commitment to press...

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...

This Ex Post Assessment of Longer-Term Program Engagement for the Kyrgyz Republic explains macroeconomic and structural performance. External debt service claimed a steadily increasing share of fiscal revenues, but a strengthened commitment to prudent fiscal policies and improved policy capacity...

The staff report for the 2005 Article IV Consultation on the Republic of Latvia highlights the economic outlook and mid-term risks. A sound policy framework and far-reaching structural reforms supported this performance, including a prudent fiscal policy that underpinned the exchange rate peg....

This 2004 Article IV Consultation highlights that the three-year Poverty Reduction and Growth Facility arrangement for Vietnam expired in April 2004. During the arrangement, Vietnam maintained strong economic growth and low inflation, and achieved further poverty reduction, supported by...

The staff report for the combined 2004 Article IV Consultation on the Kyrgyz Republic highlights the economic developments and external policies. The Kyrgyz Republic’s good economic performance owes much to its macroeconomic policies. Fiscal consolidation has helped to stabilize external...

Capital flight may undermine economic growth and the effectiveness of debt relief and foreign aid. This paper is the first attempt to test whether unsound macroeconomic policies or weak institutions lead to capital flight, using panel data for a large set of developing, emerging market and...

This 2004 Article IV Consultation highlights that Slovakia’s economic performance has improved since the 2003 Article IV Consultation. Output has expanded strongly, and fiscal and external balances have narrowed substantially in recent years. These developments were assisted by large...

This 2004 Article IV Consultation highlights that the Czech Republic’s GDP expanded by 3.1 percent in 2003 and the first quarter of 2004, mainly supported by household consumption. Investment was also strong in 2003—driven by spending on public infrastructure—and swelled in...