Uruguay’s Second Review Under the Stand-By Arrangement and Requests for Modification, Waiver of Nonobservance and Applicability of Performance Criteria are discussed. Growth remains robust, inflation is subdued, and the external position continues to strengthen, with buoyant exports and...

The staff report for the First Review Under the Stand-By Arrangement on the Republic of Croatia focuses on fiscal policy and monetary and financial sector policies. Financial soundness indicators show a continuation of the overall strengthening of the banking system, although foreign...

The Bahamas’s 2005 Article IV Consultation reports that the economic slowdown has contributed to deterioration in the fiscal accounts. The Bahamas is a small, open, and relatively wealthy economy, which is highly dependent on tourism from the United States and offshore financial...

There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment. The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure....

In the aftermath of adverse supply shocks, and with further measures to promote investment, growth of production and exports is expected to recover. Efforts to remove barriers to investment and ensure a reliable provision of electricity are critical to private-sector-led growth. External...

This 2003 Article IV Consultation highlights that the economy of the Republic of Poland began to recover during 2002 from the sharp weakening of growth in 2000–01, but the recovery is fragile. Private consumption picked up gradually, fueled by rising real fiscal transfers, easing monetary...

All of the quantitative performance criteria were observed for the period under review. The authorities recognize the numerous challenges facing their program and remain committed to its successful implementation. Given continued strong fiscal performance and the expectation of improved monetary...