Belize has been hit hard by the COVID-19 pandemic, which led to a deep recession and worsened fiscal and external positions from already weak levels. The opposition People's United Party won the November 2020 elections by a wide margin, which gives the new government a unique opportunity to jump...

This paper discusses recent economic developments, outlook, and policies required to stabilize the economy of Sri Lanka. Recent economic developments reflect a more challenging external environment as well as a sharpening of macro-financial imbalances that began emerging late in 2014. Fiscal...

This paper evaluates the risks and vulnerabilities of the German financial system and reviews both the German regulatory and supervisory framework and implementation of the common European framework insofar as it is relevant for Germany. The country is home to two global systemically important...

This paper discusses findings of the assessment of Lebanon's financial system. Lebanon has maintained financial stability for the last quarter century during repeated shocks and challenges. Over time, macroeconomic and financial vulnerabilities have accumulated. Although central bank policies...

Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation...

On September 30, 2020, the IMF Executive Board approved a 27-month arrangement under the Extended Fund Facility (EFF) with exceptional access (SDR 4,615 million, 661 percent of quota, about USD 6.5 billion) to help Ecuador restore macroeconomic stability and pursue the unfinished structural...

Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth. International reserves have increased to USD 1.3 billion at end-March 2021, supported by IFI loans. This, and a...