This paper discusses the Former Yugoslav Republic of Macedonia’s Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program. The 2007 fiscal deficit target increased modestly to 1 percent of GDP. Taxes were cut and budget...

The Fifth Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility of the Republic of Mozambique explains macroeconomic performance. Growth has picked up, led by strength in the construction sector and a recovery in agricultural production. The strategy to...

Macroeconomic performance continues to be strong, with double-digit real gross domestic product growth and low inflation. All quantitative and structural performance criteria have been met. Significant progress has been made in converting quasi-fiscal subsidies to fiscal subsidies. The...

This paper examines Mozambique’s First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Mozambique’s performance in 2004 relative to the main macroeconomic objectives of the PRGF-supported program was satisfactory. The fiscal...

This paper examines the Kyrgyz Republic’s 2002 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and a Request for Waiver of Performance Criterion. All performance criteria but one were observed for the period under review (April 1,...

This 2005 Article IV Consultation highlights that the Algerian economy continues to benefit from abundant and increasing hydrocarbon revenues. Real GDP growth is expected to continue at about 5 percent in 2005, led by increased output in the hydrocarbon sector and sustained activity in the...

This paper presents key findings of the Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems for the Kyrgyz Republic. Though the Kyrgyz Republic has made progress...

Bangladesh achieved steady gross domestic product growth with manageable inflation, and improved social indicators, owing to prudent macroeconomic management and a renewal of structural reform. The proposed Poverty Reduction and Growth Facility-supported program builds on this record of policy...

This paper discusses the Use of IMF Resources in Haiti and Request for Emergency Post-Conflict Assistance (EPCA). The EPCA-supported program was on track until May 2005. All end-December and end-March targets were observed, inflation declined, the exchange rate stabilized, and net international...