This paper explains Burundi’s Enhanced Initiative for Heavily Indebted Poor Countries (HIPC). Burundi’s social indicators reflect the effects of poverty compounded by decades of violence. The government’s Interim Poverty Reduction Strategy Paper (I-PRSP) is based on broad...

Ukraine’s economic downturn has been sharper than originally envisaged, mostly reflecting the deterioration of the external environment. The staff report examines Ukraine’s first review under the Stand-By Arrangement, requests for Waivers of Nonobservance of Performance Criteria,...

This paper assesses Ethiopia’s economic progress under the Enhanced Initiative for Heavily Indebted Poor Countries (HIPC) Initiative, and seeks approval of the IMF staff for the completion point under the initiative. It reviews the status of creditor participation, the delivery of debt...

The number of Malian refugees in Burkina Faso has increased, but the government’s contribution remains in line with earlier estimates. Growth for 2012 has been revised upward to 8 percent. The overall fiscal deficit is significantly lower than anticipated. The current account is expected...

This paper discusses key findings of the Third Review Under the Extended Credit Facility (ECF) for Burundi. In a difficult post-conflict environment, performance on the ECF-supported program was satisfactory. All quantitative performance criteria for end-September 2009 were met, and structural...

This paper reviews Liberia’s performance under the staff-monitored program (SMP) through December 2007, and proposes a three-year program to be supported by the Poverty Reduction and Growth Facility (PRGF) and the Extended Fund Facility (EFF) once Liberia’s arrears to the IMF have...

Economic growth in Swaziland has weakened over the past decade. This 2005 Article IV Consultation highlights that real GDP growth decelerated to 2.1 percent in 2004 and an estimated 1.8 percent in 2005. A prolonged drought affected agricultural output, particularly maize, the main staple crop,...

The staff report for the 2006 Article IV Consultation on St. Vincent and the Grenadines highlights economic prospects and the fiscal situation. St. Vincent and the Grenadines is a small, open economy that has increasingly relied on its tourism sector. The export-oriented services sector accounts...

The staff report for the First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on the Republic of Armenia highlights economic developments and the macroeconomic framework. Armenia’s economy continues to perform strongly. Prudent fiscal and monetary...

With global financial turmoil increasingly spilling over into Serbia, the authorities have requested a 15-month Stand-By Arrangement (SBA), which they intend to treat as precautionary. The authorities’ program aims at safeguarding macroeconomic and financial stability, in view of the...