Strong economic fundamentals, robust policy framework, and a sustained track record of excellent policy implementation have facilitated the maintenance of orderly economic conditions in Mexico even amidst the substantial external volatility during the global crisis. Executive Directors welcomed...

Real GDP growth for 2010 has been revised upward to 6.3 percent, and annual CPI inflation has increased to about 10 percent. End-December performance criteria (PC) are expected to be met, with the exception of the fiscal deficit and general government expenditure targets owing to the late...

This statistical appendix on Algeria was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. Basic economic and financial indicators, sectoral distribution of GDP, and real GDP growth are listed....

This paper estimates cyclically adjusted balances for Uruguay, and discusses methodological and practical implementation issues. In line with standard practice, this paper assumes aggregate fiscal revenue elasticity equal to one. The study also focuses on the cyclically adjusted primary balance,...

Qatar has weathered the global economic crisis well. Enhancement of liquefied natural gas capacity (LNG), government support to the banking system, and increase in public spending sustain the high growth rates. There is a need to monitor aggregate demand to prevent the resurgence of inflation...

Despite the effects of the international crisis, real nonhydrocarbon GDP (NHGDP) growth in 2009 exceeded the average of 6 percent. Algeria’s good economic performance supported by the authorities’ prudent fiscal and monetary policies and the favorable external environment are welcomed. The...

The Basel Core Principles for Effective Banking Supervision (BCP) assessment confirms the high standard of prudential regulation and supervision described in the 2003 assessment, and found that the issues identified have largely been addressed. The Guernsey Financial Services Commission (GFSC),...

Prior to the global crisis, Cambodia enjoyed a decade of high growth and relative stability. However, as a result of the global crisis, output collapsed, and longstanding structural vulnerabilities have been exposed. Discussions focused on the dual policy challenge to safeguard macroeconomic...

Hungary was severely affected by the crisis. The financial sector has remained resilient throughout the crisis. The Central Bank (MNB) paused in mid-2010 and has tightened interest rates by 50 basis points since November in response to a sharp rise in risk premia and higher headline inflation...

The Bahamas depends heavily on tourism and financial services. Executive Directors have commended the strong track record of prudent macroeconomic management, but have encouraged the government to broaden the domestic tax base, reduce distortions, increase the resilience of revenues to shocks,...