Release Date: December, 2010

Policy efforts in Latvia have supported stabilization. Immediate risks are much lower, but medium-term challenges remain. The government should focus on durable spending cuts, but revenue measures more...

Release Date: December, 2010

The global economic and financial crisis found the economy of Bosnia and Herzegovina in a vulnerable position. The government put together a comprehensive program supported by the International more...

Release Date: April, 2010

This 2010 Article IV Consultation highlights that the authorities’ adjustment program has contributed to limiting the fallout of the global crisis on Serbia. Although the output slump has been more...

Release Date: January, 2009

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 more...

Release Date: June, 2008

Macroeconomic performance of Armenia in 2007 has been strong, with double-digit growth and single-digit inflation for the sixth consecutive year. Fiscal policy in 2007 remains prudent, with the more...

Release Date: June, 2008

Strong macroeconomic foundations have so far largely shielded the Netherlands from recent financial turbulence. Despite a tightening labor market, inflation remains subdued. Employment has grown more...

Release Date: May, 2008

Switzerland showed impressive growth performance owing to its strong macroeconomic policies and structural reform efforts. Executive Directors emphasized the need to maintain financial stability. more...

Release Date: May, 2008

Croatia's economic growth accelerated, but external imbalances continued to increase. Executive Directors commended the strong performance accompanied by commendable prudent policies and continued more...

Release Date: April, 2008

In this report, economic performance of Lithuania over the past decade is discussed. These reflect on EU accession, rapid financial integration, and generally sound macroeconomic policies. Concerns more...

Release Date: April, 2008

The external sector has an increasing drag on the economy. The current account deficit remains fully financed by FDI, and the underlying balance is consistent with external-debt stabilizing levels. more...

Release Date: April, 2008

The main challenges for this review were to further redress long-running problems in the energy sector and to balance fiscal policy requirements for development spending with macroeconomic stability. more...

Release Date: April, 2008

The basic government finance processes are supported by a sound institutional and legal framework. Fiscal information is provided through regular publications and extensive use of the internet. more...

Release Date: March, 2008

Although economic performance has remained good, difficulties in building consensus for institutional reform have caused an ill-affordable hiatus in economic policymaking. Robust economic activity more...

Release Date: February, 2008

The German economy has made major strides, helped by wide-ranging reforms. Greater transparency and stronger incentives for prudent action will support crisis prevention and management. The immediate more...

Release Date: February, 2008

France’s near–term economic outlook is moderately positive, but clouded by risks from the global environment. The government’s reformist intentions provide an historic opportunity more...

Release Date: February, 2008

The Serbian economy has continued to grow strongly, but external imbalances have widened along with vulnerabilities. To contain domestic demand, fiscal surpluses are needed, until the benefits of more...

Release Date: February, 2008

High capital inflows and rising vulnerabilities underscore the importance of a comprehensive approach to ensuring stability. Standard balance sheet indicators mask a substantial build-up of exposures more...

Release Date: January, 2008

The Welfare Improvement Strategy (WIS) of Uzbekistan has the objective of improving living standards of its people with the help of strong economic policies for all priority areas of development. The more...

Release Date: December, 2007

This 2007 Article IV Consultation highlights that Bulgaria’s large external imbalance has continued to widen. Driven by massive capital inflows, particularly foreign direct investment inflows, more...

Release Date: December, 2007

This Selected Issues paper on Bulgaria investigates possible driving forces behind the investment boom based on cross-country evidence. The diagnosis of the drivers behind the investment boom is more...