Chad has succeeded in recent years in broadly maintaining macroeconomic stability and a high growth rate of economic activity. There has been a significant effort to formulate the detailed modalities for the use of oil revenues so as to ensure that oil revenues are used transparently and...

The report provides an overview of the recent economic developments in Paraguay. The study analyzes the potential output, growth, prices, wages, and the labor market; and assesses the public finances, social security, and public enterprises. The paper reviews the monetary sector, evaluates the...

Trinidad and Tobago showed strong economic performance. Executive Directors welcomed this development, and emphasized the need to maintain strong fiscal and monetary policies, and accelerate structural reforms. They appreciated the proposals to include the state energy companies in the list of...

This paper describes economic developments in Pakistan over the five-year period 1992/93–1996/97, with particular emphasis on the last two years. The paper discusses output and price developments, the performance of public sector enterprises, and the packages that were introduced by the...

This Selected Issues paper for the Kingdom of the Netherlands—Netherlands underlies recent fiscal developments. Fiscal deterioration during economic slowdowns is not unusual and can be justified on economic grounds. Although the real spending ceilings were largely adhered to, procyclical...

The continued decline in oil production and the absence of sustained adjustment policies have contributed to Gabon's uneven economic performance over the past three years. To strengthen further the track record before discussing a possible IMF-supported program, a staff-monitored program has...

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 describes economic developments in Ukraine during the 1990s. In 1996, Ukraine achieved a measure of macroeconomic stability for the first time since gaining independence. Inflation, which at times had bordered on hyperinflation, fell to an average monthly rate of 2.8 percent and,...

Although not escaping the global slowdown, the Spanish economy has weathered it relatively well. The discussions focused on minimizing short-term risks and on identifying the structural reform priorities for the next government. However, household indebtedness has continued to rise rapidly,...

This paper assesses Cambodia’s 2001 Article IV Consultation and Fourth Review Under the Poverty Reduction Growth Facility (PRGF). The PRGF-supported program approved in October 1999 aims at sustaining economic growth, reducing poverty, and accelerating economic reconstruction. In the...