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International Monetary Fund. Western Hemisphere Dept.

First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras

International Monetary Fund. African Dept.

Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

International Monetary Fund. Middle East and Central Asia Dept.

Overall macroeconomic conditions have continued to improve, but challenges remain. Economic activity rebounded in 2015, helped by a very good agricultural year. Fiscal and external imbalances have declined and reserve buffers are building up. While poverty, unemployment rates, and inequality have decreased in recent years, much remains to be done, including to reduce unemployment among the youth and to increase female labor participation. The outlook remains subject to domestic and external risks, related in particular to reform implementation, weak growth in key trading partners, and a potentially volatile international environment.

International Monetary Fund. Middle East and Central Asia Dept.

Macroeconomic conditions have improved since 2012 despite sluggish growth. In 2016, growth slowed due to a sharp contraction in agricultural output and subdued non-agricultural activity; the fiscal deficit is estimated to have declined to 3.5 percent of GDP; the current account deficit widened slightly to 2.9 percent of GDP; and international reserves strengthened to about seven months of imports. Reforms are advancing, including of the public pension system and the transition to a new exchange rate and monetary regime. Banks are adequately capitalized, but non-performing loans (NPLs) are increasing and credit concentration risks need to be reduced.

International Monetary Fund. Middle East and Central Asia Dept.

2019 Article IV Consultation and Request for a Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Armenia

International Monetary Fund. Middle East and Central Asia Dept.

Ex-Post Evaluation of Exceptional Access Under the 2014 Precautionary and Liquidity Line Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Morocco

Mr. Arvind Virmani
The paper reviews and draws lessons from the experience of fast growing economies including a sub-set of these termed High Growth Economies (HGEs) with a decadal rate of over 7 per cent. It then reviews the history of the Indian growth acceleration following the reforms of the 1990s and its future prospects given the recent slowdown. It analysis the potential dangers and reasons for India’s growth slowdown and proposes policy reforms for sustaining fast growth.
Ms. Patricia Alonso-Gamo
Globalization—the intensification of international trade and finance linkages underpinned by economic liberalization and technological change—presents both challenges and opportunities to Arab countries. After reviewing this region’s disappointing performance in integration and growth, this paper analyzes the empirical relationship between the two and concludes that integration is necessary if high growth rates are to be attained and the region is not to become marginalized. It then identifies the main obstacles to the integration of Arab countries into the world economy and reviews recent progress in overcoming them. On this basis, the paper derives some policy prescriptions.