This Recent Economic Developments and Selected Issues paper highlights that Germany’s recovery from the 1993 recession, which had already been weaker than the previous three recoveries, stalled in the third quarter of 1995; output subsequently contracted in the fourth quarter of 1995 and...

Contents include: Budget deficit - concepts, measurements, and developments; definition, accounting basis, scope, and coverage. Structural reform issues: privatization; capital market reform; exchange and trade liberalization; other government intervention - investment subsidies and price...

Malta has advanced toward accession to the European Union (EU), and its progress in international competition and fiscal deficit reduction has contributed to rapid growth and enhanced the economy's resilience to economic shocks. Executive Directors stressed the need for fiscal consolidation,...

This paper describes economic developments in Antigua and Barbuda during the 1990s. The growth of real GDP picked up to about 4 percent in 1993–94 on the strength of increased tourism while inflation remained low. The current account deficit of the public sector widened from less than 3...

This paper reviews economic developments in the Republic of Croatia during 1990–95. Real gross domestic product fell by a cumulative 30 percent over 1991–93. However, the economy began to recover in 1994 and real GDP grew by 0.8 percent. In the first quarter of 1995, real GDP was...

This paper presents Indonesia’s 2005 Article IV Consultation and Third Post-Program Monitoring discussions. The economic strategy has produced positive results over time. Economic growth has gained momentum year by year, inflation has been substantially reduced, and the external position...

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.

Improved terms of trade and sound macroeconomic policies have helped strengthen Kuwait's financial situation. The government should move forcefully to implement its structural reform program. Monetary policy is rightly focused on maintaining the credibility of the pegged exchange rate...

This Selected Issues paper and Statistical Appendix provide background information and analytical support for key policy issues discussed in the 2004 Article IV Consultation discussions with Mauritius. The impact of the erosion of trade preferences on exports, growth, and employment is assessed...

This report assesses the Observance of Standards and Codes on Fiscal Transparency Module for Mali. Mali has made progress in recent years in increasing the transparency of government operations. The legislative base underlying the budget is extensive. Some modern developments in budgeting, such...