This paper reviews economic developments in Turkey during 1992–96. The Turkish economy rebounded in 1995, with real gross national product rising by 8.1 percent, reversing the decline of 6.1 percent in 1994. A strong pickup in activity in the second and third quarters of 1995 more than...

The paper first discusses price trends and the relationship between money growth and inflation. Second, it focuses on the central challenge of improving competitiveness and promoting exports to enhance growth in the economy. Finally, it reviews the microfinance sector. The study also includes...

Domestic demand continued to grow at rapid rates, despite corrective fiscal and monetary policy measures. Although trade and financial sector reforms advanced and foreign direct investment (FDI) regulations were liberalized, there was less progress in improving the business environment, reducing...

This 2001 Article IV Consultation highlights that Haiti’s performance under the Staff-Monitored Program (SMP) during FY2000/01 was weak. Real GDP is estimated to have declined by about 2 percent, reflecting tight monetary conditions and the negative expectations raised by the continuing...

This 2005 Article IV Consultation highlights that economic activity in the Eastern Caribbean Currency Union (ECCU) has accelerated since mid-2003 owing to an acceleration of activity in the tourism and construction sectors. Inflation has been stable and monetary aggregates have been expanding...

The government of Rwanda has recognized that economic development in most areas would have to be the responsibility of the private sector (particularly since military and civil service employment would be reduced), but that the public sector could still have a role in promoting economic equality...

This paper reviews economic developments in Tonga during 1990–95. During 1990/91–1991/92, GDP rose by an average of 3.4 percent, fueled by a fourfold increase in squash exports. In 1992/93, GDP growth quickened to 3.7 percent, largely on the basis of a rebound in construction and a...

This report summarizes the sixth review of the economic program of Mali under the Poverty Reduction and Growth Facility (PRGF) and assesses the progress made in adjusting the economy. The Malian authorities continued to make good progress in implementing the IMF program, under difficult...

This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long periods of time have little incentive to reduce arrears. The state contributed to...

This report describes economic developments in Benin during the 1990s. During 1993–95, the reform strategy was further reinforced in the framework of a program supported under the enhanced structural adjustment facility; it included additional improvements in tax administration and tax...