This 2005 Article IV Consultation highlights that the GDP growth in Japan slowed unexpectedly in the second quarter of 2004, after several quarters of above-trend growth. For the full year, GDP rose by 2.6 percent, well below expectations. A significant part of the shortfall reflected a shift to...

This paper reviews economic developments in Suriname during 1994–96. In 1995, there was a major turnaround in Suriname’s economic and financial situation following the expansionary fiscal and monetary policies pursued in the first half of the 1990s and the political and economic...

This Selected Issues paper and Statistical Appendix analyzes four issues relevant to the achievement of high-quality economic growth in Lithuania, namely the composition of government expenditure, financial sector development, foreign direct investment, and entry and exit of commercial...

The economy has thus far been fairly resilient to recent political uncertainties, although the reform process has been adversely affected. Continued growth will depend to a large extent on higher private investment, which will require further improvements in governance and the implementation of...

This paper reports economic developments in Zimbabwe during the 1990s. In 1991, the government officially launched its comprehensive Economic and Structural Adjustment Program—covering fiscal years 1991 through 1995—to strengthen growth and employment prospect. Despite the success...

This Ex Post Assessment reviews Benin’s progress in implementing economic policies and reforms supported by the Enhanced Structural Adjustment Facility (ESAF) and Poverty Reduction and Growth Facility (PRGF) arrangements since 1993, and draws lessons for a possible successor arrangement....

This Selected Issues paper examines the external sector issues in Hungary. It looks at some traditional indicators of external competitiveness, and provides basic background on key macroeconomic developments, including the current account and its financing. The paper examines various measures of...

This Report on the Observance of Standards and Codes (ROSC) provides a review of Georgia’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an in-depth assessment of the quality of the national accounts, consumer price index,...

Niger’s sociopolitical environment remains fragile, with a continuation in early 2003 of the social tensions that surfaced in 2002. In the wake of a satisfactory macroeconomic performance in 2002, activity has continued to be buoyant in all sectors of the economy, particularly in the...

This Selected Issues paper and Statistical Appendix examines Portugal’s real convergence experience, and highlights the growth payoff of reform policies in determining the country’s rapid growth during most of the past decade. The paper identifies potential areas for reform by...