The discussions focused on reviewing the reforms that were implemented since the last consultation, policies for the remainder of the year as well as the parameters of the 2004 program, and the medium-term outlook. Executive Directors encouraged the exchange and monetary systems, but additional...

This 2010 Article IV Consultation highlights that Egypt has weathered the global financial crisis relatively well and financial market pressures have eased after the initial outflow. Equity prices plateaued in recent months, after having recovered over half of the losses since the April 2008...

This paper discusses key findings of the Fifth and Sixth Reviews Under the Stand-By Arrangement (SBA) for Uruguay. Monetary and fiscal policies have been implemented as envisaged in the program. All quantitative performance criteria were met through end-September, except for the ceiling on...

The staff report for the Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on the Kyrgyz Republic highlights recent economic developments and performance. The current account deficit continued to widen on account of higher imports driven by strong...

The ending of the civil war has brought to the fore the need to reconstruct the Angolan economy and address the problem of widespread poverty. A strong medium-term fiscal adjustment effort, including a reduction of the National Bank of Angola's operational deficit, is needed. The government...

This 2010 Article IV Consultation highlights that macroeconomic outcomes have weakened significantly for St. Lucia. Real GDP is estimated to have contracted by 5.2 percent in 2009, reflecting a sharp decline in visitor arrivals and construction activity related to foreign direct investment. For...

Colombia’s economy has been resilient to the adverse global shocks of recent years. Inflation has been subdued, credit growth has eased, and financial soundness indicators are strong. The strong balance of payments continues to put upward pressure on the Colombian peso. In 2013, growth is...

This Selected Issues paper and Statistical Appendix surveys the main reasons for Papua New Guinea’s disappointing economic performance, highlighting the key impediments to growth in each of the main sectors of the economy. The paper outlines the structural reforms that could help reduce...

This paper discusses key findings of the Seventh Review Under the Policy Support Instrument (PSI) for Uganda. The medium-term outlook for Uganda remains favorable but risks are on the rise. Growth is expected to rebound to its potential in the coming two years on the heels of a supportive fiscal...