This Joint Staff Advisory (JSA) Note examines the Poverty Reduction Strategy Paper (PRSP) Progress Report for Armenia. Overall, the Progress Report provides evidence of stronger-than-anticipated poverty reduction and economic performance, improvement in the labor market, and a number of other...

This paper reviews economic developments in Lithuania during 1993–96. Economic growth resumed in 1994 and gained further momentum in 1995; real GDP increased by an estimated 3 percent in 1995. Growth in 1995 was driven by the industrial sector, while agriculture performed poorly. The...

The government’s strong monetary and fiscal policy framework, as well as the structural reforms introduced, have enabled the Canadian economy to respond flexibly to recent shocks and laid a solid foundation for recovery. Macroeconomic policies should remain supportive, with fiscal policy...

This Selected Issues paper and Statistical Appendix analyzes Ecuador’s fiscal policy using the concepts of the fiscal stance and fiscal impulse adjusted for movements in the real effective exchange rate. It finds that fiscal policy has been expansionary in 2000 and 2001. The paper shows...

Over the past two years, ongoing political transitions in many Arab countries have led to social unrest and an economic downturn. This paper examines comparable historical episodes of political instability to derive implications for the near- and medium-term economic outlook in the Arab...

This paper on the United Republic of Tanzania’s Poverty Reduction Strategy reports that increases in investments in infrastructure such as roads, telecommunications, mining, and tourism have been recorded owing to increased inflows of foreign direct investments and domestic revenue...

The demand pressures associated with the large terms-of-trade gains are reflected in a fast real appreciation of the ruble, although more of this has come through nominal appreciation during the last year. The risks to the outlook are evenly balanced and depend mostly on oil price developments....

São Tomé and Principe’s economy is heavily dependent on the international economy. The study assessed the country's macroeconomic, structural, and social policies in support of growth and poverty reduction. The implementation of the National poverty reduction strategy (NPRS) through People's...

Hong Kong has grown strongly as a result of its successful transformation from a manufacturing presence to a services hub over past decades. Executive Directors support the government’s commitment for the Linked Exchange Rate System. Hong Kong’s future as a financial center is...

This paper provides the IMF's projections and estimates of Thailand on basic data; summary of the central and local government tax systems, May 2003; portfolio investment liabilities, debt securities; other liabilities, trade credits, and loans; external debt stocks and flows by creditor group and...