This 2004 Article IV Consultation highlights that Vanuatu’s real GDP growth rebounded to 2.4 percent in 2003, and the recovery continued in 2004 with growth of an estimated 3 percent. The improvement was bolstered by a strong supply response to a recovery in export prices and the...

This paper analyzes the basic data, social and demographic indicators of Madagascar. The study outlines the institutional arrangements for the determination and management of the Malagasy franc, and reviews the foreign exchange market developments. The paper assesses the country's international...

This paper examines the Republic of Moldova’s 2002 Article IV Consultation, First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and a Request for Waiver of Performance Criteria. Moldova has followed sound macroeconomic policies, and most...

This Selected Issues paper and Statistical Appendix for Netherlands Antilles examines the economic growth in Small Island Economies. The paper finds that the Small Island Economies as a group grew faster than the rest of the world during 1960–85. The paper analyzes whether Small Island...

The conceptual framework of this paper assumes that macroeconomic performance depends on the interplay between the economic environment and policies. Declining labor shares, wage moderation, and employment performance in Germany and the Netherlands have been presented. A number of policy changes...

This 2002 Article IV Consultation highlights that Chile’s economic fundamentals remain sound and have improved through the evolution of the policy regime in recent years. Yet the country is operating in a difficult environment for several years, now coping with a sequence of negative...

This paper reviews Benin’s progress and proposes IMF Executive Board approval of the Completion Point Under the Enhanced Heavily Indebted Poor Countries (HIPC) Framework. The IMF staff and IDA consider that Benin has met the conditions for reaching the completion point under the enhanced...

The Joint Staff Advisory Note (JSAN) on the Poverty Reduction Strategy Paper Progress Report on Georgia evaluates the strengths and weaknesses of the poverty reduction objectives and strategies. Participation of stakeholders in the poverty reduction strategy process has been satisfactory. The...

India rebounded strongly from its 1991 balance-of-payments crisis, aided by structural reforms and other policy adjustments. The government has sought to reinvigorate the process of structural and fiscal reform. The paper examines trends in interstate differences in rural poverty; reviews...

This Selected Issues and Statistical Appendix paper analyzes monetary transmission in Croatia. The evidence analyzed in this paper supports the view that monetary policy in Croatia is not an effective tool for aggregate demand management. One of the main conclusions is that financial conditions...