This 2005 Article IV Consultation highlights that the Algerian economy continues to benefit from abundant and increasing hydrocarbon revenues. Real GDP growth is expected to continue at about 5 percent in 2005, led by increased output in the hydrocarbon sector and sustained activity in the...

This 2005 Article IV Consultation for Pakistan reports that macroeconomic performance continues to be strong, but inflation and external pressures are evident. High growth, including in agriculture, is estimated to have raised disposable incomes. The authorities’ ambitious growth...

Iceland’s 2005 Article IV Consultation reports that new projects have rekindled rapid growth and the economy is exhibiting signs of overheating, with imbalances evident in inflation, the current account, and external debt. GDP grew at an average rate of 3.8 percent between 1995 and 2004,...

St. Vincent and the Grenadines’s 2003 Article IV Consultation reports that it had moderate levels of public sector debt and debt service during the 1990s. To reduce growth volatility, since the mid-1990s, the government has attempted to implement an economic diversification program...

This staff report discusses Seychelles 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. The repayment of domestic debt, a preference for foreign financing, and shallow domestic financial markets have resulted in...

Tanzania’s performance ranks among the best for non-oil exporting countries in sub-Saharan Africa. The 2008/09 budget will aim at maintaining hard-won fiscal stability in the face of large spending needs and uncertain financing. Tighter budget constraints highlight the need to further...

The main challenges for this review were to further redress long-running problems in the energy sector and to balance fiscal policy requirements for development spending with macroeconomic stability. The financial position of the state-owned electricity company (KESH) deteriorated significantly...

This paper focuses on proposed Stand-By arrangement (SBA) for Mongolia. This proposed SBA would aim to smooth adjustment to the catastrophic terms-of-trade shock, restore health to the country’s fiscal finances, and allow for exchange rate flexibility in line with market conditions. In...

This 2013 Article IV Consultation highlights that growth in Uruguay has moderated to a more sustainable pace since 2012, mostly owing to weaker external demand. Real GDP growth is projected at 4 percent in 2013 and 3.5 percent in 2014. Fiscal policy loosened in 2012 and is set to remain slightly...

This 2011 Article IV Consultation and the Third Review Under the Extended Credit Facility for Burkina Faso highlights that the authorities have maintained fiscal consolidation efforts while mitigating the impact of exogenous shocks. Executive Directors have welcomed the authorities’...