The first review of Maldives’ economic performance under the Stand-By Arrangement (SBA) and the Arrangement under the Exogenous Shocks Facility is discussed. The fiscal deficit in 2009 was estimated at 26¼ percent of GDP, 2½ percentage points lower than previously projected. The...

This paper examines India's experience with fiscal rules with a view to inform the design of a possible successor fiscal framework to the FRBMA. Among several proposals to strengthen the FRBMA, a framework that focuses medium-term fiscal policy on debt sustainability by the use of a medium term...

This paper discusses Nicaragua’s 2005 Article IV Consultation and Seventh, Eighth, and Ninth Reviews Under the Three Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). The economy continued to perform well, notwithstanding pressure from higher oil prices. Strong...