The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

The large capital inflows that generated a domestic demand boom in Bulgaria led to strong employment growth. But a sharp reduction in capital inflows led to a contraction of domestic demand, while the recession in Bulgaria’s trading partners caused a drop in exports. Public policies will...

This 2006 Article IV Consultation highlights that the Jordanian economy has performed remarkably well in recent years, mainly owing to far-reaching macroeconomic and structural reforms. Despite negative shocks, growth has been robust, inflation has remained low, public debt has continued to...

Jordan’s 2008 Article IV Consultation discusses the appropriate policy response to mounting fiscal and external vulnerabilities and higher inflation. Sharply higher world fuel and food prices led to a marked widening of the fiscal and external current account deficits and, more recently,...

This paper focuses on the Fifth Post-Program Monitoring Discussions with Jordan. Jordan’s economic performance remains strong. Growth is robust, core inflation is contained, the current account deficit is narrowing, reserves are comfortable, and the fiscal situation continues to improve....

This paper discusses key findings of the Fifth Review Under the Stand-By Arrangement for Georgia. The 2010 program sets out a viable exit strategy from official external support, permitting the Georgian authorities to return to capital markets ahead of their large debt rollover needs in...

This 2009 Article IV Consultation highlights that against a backdrop of a highly uncertain global economic environment, Mozambique’s macroeconomic prospects remain positive, but have weakened. The scope for supportive macroeconomic policies to offset the impact of the global economic...