This paper reviews economic developments in Bulgaria during 1990–97. Bulgaria’s macroeconomic performance during 1990–97 was weaker than in most transition countries in the region. With economic activity declining significantly during most years, the cumulative fall in real...

This paper presents a Financial System Stability Assessment Update, including Reports on the Observance of Standards and Codes (ROSC) on the Securities Regulation, Insolvency and Creditor Rights Systems, and Payment Systems in Colombia. Overall, the financial sector appears relatively stable and...

This paper reviews economic developments in San Marino during 1990–98. San Marino has enjoyed rapid growth in the 1990s, as the expansion in output has outstripped that experienced in Italy as a whole and the surrounding regions of Emilia–Romagna and the Marche. Real GDP rose by an...

This paper discusses a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies—Securities Regulation for Italy. The paper discusses that in the area of securities regulation, the objectives and responsibilities of the two...

This paper reviews economic developments in Ukraine during 1996–99. Output decline continued in 1997 and 1998, especially following the August 1998 crisis in Russia. During this period, Ukraine made substantial progress in reducing inflation, mainly through the implementation of a...

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.

This paper reviews economic developments in the Former Yugoslav Republic of Macedonia during 1994–98. In 1994–95, the authorities reasserted control over monetary policy, stabilized the exchange rate, and undertook a substantial fiscal adjustment. As a result, price stability was...

This paper discusses the intermediation of financial saving in India and the implications for growth. Recent studies linking financial sector development and growth in India are reviewed. The following statistical data are also provided: employment and labor statistics, agricultural production...

This report reviews Liberia’s Post-Conflict Economic Conditions and Economic Program for 2004–05. The economy of Liberia is recovering, following a sharp contraction in the second half of 2003, as a result of increasing donor support and the revival of associated manufacturing and...

This paper focuses on Pakistan’s 2004 Article IV Consultation, Ninth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Request for Waiver of Performance Criteria (PCs). Implementation of the PRGF program in Pakistan remains broadly on...