The economic recovery in Côte d’Ivoire is crucial to growth throughout the subregion. The fiscal results and mobilized domestic financing enabled the authorities to make payments to the World Bank and AfDB and reduce domestic arrears. Reporting on quasi-fiscal cocoa levies has improved....

This paper on Cameroon’s Enhanced Heavily Indebted Poor Countries (HIPC) Initiative explains implementation of the poverty reduction strategy and macroeconomic performance. Executive Directors agreed that Cameroon’s external public debt was above the HIPC Initiative sustainability...

This paper discusses key findings of the Second Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility for Cameroon. Economic activity is slowing, reflecting a weak business environment, stronger competition from low-cost producers of manufactured products, and...

Fiscal consolidation, additional reserve buildup, and higher growth are key program objectives for the Jordanian authorities. Despite the socially difficult elimination of the fuel subsidy, program performance was mixed. Initiatives to strengthen banking supervision and develop capital markets...

Burundi is one of the poorest countries in the world. The country is emerging from more than a decade of civil conflict. The World Bank’s country assistance strategy focuses on structural reforms to further increase growth and reduce poverty. The economy is emerging from the effects of...

This paper examines Uruguay’s Request for a Stand-By Arrangement. Although the external current account shifted to a moderate deficit, mainly reflecting the recovery in imports, export performance has been robust, and gross international reserves are now about three-fourths their...

This paper presents Portugal’s third review under the extended arrangement and request for waiver of applicability of end-March performance criteria. The government has initiated labor market reforms, privatizations, telecom sector liberalization, and improved competition framework....

Benin’s Fifth Review under the Poverty Reduction and Growth Facility and request for waiver of Nonobservance of Performance Criteria are discussed. The main challenge ahead is to limit inflation pressures from higher food and fuel prices while sustaining medium-term fiscal consolidation...

The Zambian economy has performed well owing to its strong macroeconomic policies, high copper export prices, and extensive debt relief. Executive Directors encouraged the authorities to reduce poverty and attain the Millennium Development Goals (MDGs) under the Fifth National Development Plan...

This 2006 Article IV Consultation highlights that Malawi is at a critical juncture following its progress on macroeconomic stability, attainment of the Heavily Indebted Poor Countries (HIPC) completion point in August 2006, and the recent launch of the Malawi Growth and Development Strategy,...