The Hong Kong Special Administrative Region (SAR)'s healthy labor market and supportive fiscal policy helped its domestic economy's resilience, while its gross domestic product (GDP) growth was marginally slow owing to its weak external environment. Its fiscal policy has been effective in...

Currently, global value chains (GVCs) are increasingly shaping the global economy, covering a growing share of international trade, GDP, and employment globally. Global trade is impacted by the emergence of GVCs in areas as diverse as commodities, electronics, and business service outsourcing,...

This 2009 Article IV Consultation highlights that Malaysia has been hit hard by the global downturn. The economy is set to contract for the first time in 10 years. Global turbulence has spilled into the domestic financial markets. Executive Directors have commended the Malaysian authorities for...

The Republic of Kazakhstan’s 2008 Article IV Consultation shows that banks have lost access to new external financing, credit extension has stalled, and growth has slowed. Nevertheless, Kazakhstan has considerable public financial resources to help it weather the current situation and the...