This paper presents key findings of the Fifth Review under the Policy Support Instrument for Cape Verde. All quantitative assessment criteria for end-June 2008 were met. GDP growth remains generally resilient, and inflation pressures have been contained. Progress on structural measures has been...

The staff report for the 2007 Article IV Consultation highlights Turkey’s economic revival and policies to entrench macroeconomic stability. Turkey has experienced an impressive economic revival in recent years. Exports have continued to gain market shares, as the effects of an...

This staff report highlights Dominica’s Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility. Although macroeconomic policy has been prudent and well-oriented, it is important to maintain the reform momentum. In this context, the key policy challenges...

This report reviews the Article IV Consultation with Algeria on economic developments and policies. Algeria has enjoyed several years of strong economic performance driven by public spending, but continues to face important challenges. Nonhydrocarbon (NH) growth and job creation are largely...

Portugal's economy faced severe crisis during the global economic and financial crisis. In this context, Portugal's authorities have put forward an economically well-balanced program that will focus on structural reforms to boost growth and employment, ensure balanced fiscal sustainability,...

Benin, a member of the CFA franc zone, has experienced uneven economic progress over the last several decades. It has a long history of engagement with the IMF. This ex post assessment update covers primarily the implementation of the program supported by the 2005–09 poverty reduction...

This paper discusses Burkina Faso’s ex-post assessment of longer-term program engagement. Economic growth has fluctuated above regional standards, averaging 5.3 percent between 2007 and 2012. The improvements in the agricultural sector, as a result of authorities’ strong push for...

This paper focuses on common policies for member countries of Central African Economic and Monetary Community (CEMAC). It highlights that the fiscal stance should be more cautious in some countries where policy buffers are insufficient to withstand shocks. The recent easing of monetary policy...

This 2006 Article IV Consultation highlights that real GDP in the Federated States of Micronesia grew by only 1½ percent in FY2005 and declined by nearly 1 percent in FY2006. The underlying fiscal situation has deteriorated, despite a decline in the overall deficit. Executive Directors have...

This paper discusses key findings of the Seventh Review Under the Policy Support Instrument for Cape Verde. All assessment criteria were met with a margin, and all but three structural benchmarks were met. Growth is holding up at 4 percent in 2009, and inflation is low. The authorities have...