This Selected Issues paper on Togo examines the banking sector in Togo. It describes the nature of the problems presently confronting the Togolese banking system, most of which have their origins in the impact of the sociopolitical crisis of 1991–93 on the banks’ portfolio...

This Selected Issues paper analyzes the entrenched inflation in Russia. It presents a possible explanation for the entrenched inflation stating that the Russian economy is facing increasing supply-side constraints in goods and labor markets. The paper focuses on measuring the performance of...

The staff report for the 2005 Article IV Consultation on the Kingdom of the Netherlands—Aruba highlights the economic developments and policies. Meeting the challenges of population aging requires policies that create conditions for faster productivity growth. IMF Staff recommended...

This Selected Issues paper presents the projections on the fiscal and external profiles for Norway, and discusses the long-term prospects and policy options. The study evaluates the details and implications of the system of social insurance schemes; and long-term profile of oil-related exports...

The 2002 Article IV Consultation highlights that the financial sector of Luxembourg has continued to expand, with asset and liquidity management taking over from private banking as the main source of strong growth of the sector. Nonetheless, activity weakened in 2001. Structural reforms are...

This paper assesses Serbia and Montenegro’s First Review Under the Extended Arrangement (EA). Serbia and Montenegro’s economic and policy performance has remained good under the current EA, but daunting challenges lie ahead. Macroeconomic policies need to be carefully calibrated to...

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 Selected Issues paper examines economic developments in Bolivia during 1990–97. Macroeconomic developments in 1997 were generally sound. Economic growth for the year remained moderately robust while inflation continued on a downward path. However, the structural reforms adopted since...

This Background Paper presents a long-term perspective on investment and output performance in Uganda, beginning after the country gained independence in the early 1960s. Against the background of long-term trends in savings, investment, and output, the paper describes the initial conditions...

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.