This paper focuses on Tajikistan’s Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). The program for 2005 has been implemented satisfactorily. All quantitative and structural performance criteria and indicative targets for end-September 2005 were observed, and all...

Economic developments are broadly in line with the original program projections for the year. The authorities have made considerable progress in implementing the IMF staff-monitored program (SMP), and the program is broadly on track. Substantial efforts to improve revenue administration raised...

Liberia’s 2006 Article IV Consultation reports that the economy continues its modest recovery, driven by donor-related expenditure and the resumption of activity in rural areas. The government has endorsed the Governance and Economic Management Assistance Program that aims to strengthen...

Paraguay’s Sixth Review Under the Stand-By Arrangement reports that the program is ending successfully, having achieved the broad objectives of restoring stability and beginning a process of structural reform, albeit with some delays. At the time of program approval in 2003, Paraguay had...

Despite abundant natural resources and arable land, Guinea-Bissau is ranked at the lowest end of the UN human development index, mainly because of the civil war of 1998–99 and the ensuing prolonged political instability and serious governance deficiencies thereafter. Since mid-2004,...

Albania’s macroeconomic performance over the past year has been good, with strong growth and a significant reduction in poverty under the Poverty Reduction and Growth Facility Arrangement. Executive Directors commended the new strategy for maintaining the macroeconomic stability,...

The authorities’ program for 2003–05, supported by the previous Stand-By Arrangement (SBA), successfully stabilized the economy despite difficult conditions. A new economic program for 2006–08 is needed to consolidate macroeconomic stability, address remaining...

This Selected Issues paper on Belize reviews the external competitiveness, balance sheet currency mismatch, and public sector debt. Belize is a small, open economy and highly dependent on external trade. Real wages in the private sector have increased only slightly. Belize’s exports of...

This paper highlights Mozambique’s 2005 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Modification of Performance Criteria. The performance under the program...

This 2005 Article IV Consultation highlights that Liberia’s real GDP rebounded in 2004, following a steep decline in the second half of 2003 on account of the hostilities and the imposition of the United Nations ban on timber exports. Prices, particularly of food items, have stabilized as...