Request For Waiver Of Applicability Research Articles

St. Kitts and Nevis - Second Review Under the Stand-By Arrangement and the Financing Assurances Review, and Request for Waivers of Applicability: Staff Report and Press Release

The Second Review Under the Stand-By Arrangement with St. Kitts and Nevis highlights that economic activity continued to contract in 2011 while the current account balance improved and banks remained sound. All quantitative performance criteria for end-December 2011 were met, and the structural benchmarks were completed. The authorities have made progress in a comprehensive debt restructuring, including a successful completion of the restructuring of bonds and external commercial debt on April 18, 2012, and agreement on a debt-land swap.

St. Kitts and Nevis - First Review Under the Stand-By Arrangement and the Financing Assurances Review, and Request for Waivers of Applicability and Modification of Performance Criterion: Staff Report and Press Release

The staff report for St. Kitts and Nevis’ first review under the Stand-By Arrangement and the Financing Assurances Review is presented. Economic activity is estimated to have been flat in 2011, as continued weakness in the construction sector offset the moderate recovery in tourism and manufacturing sectors. The external current account deficit is estimated to have widened in 2011, with higher energy and food prices more than offsetting the impact of fiscal consolidation and growth in stay-over tourist arrivals.

St. Kitts and Nevis: Third Review Under the Stand-By Arrangement, Financing Assurances Review and Request for Waivers of Applicability--Staff Report and Press Release on the Executive Board Discussion

Economic activity is estimated to have softened below program expectations in January-March 2012, due to a continued contraction in the construction sector which dominated a relatively strong outturn in tourism. Despite this growth underperformance and the continued global uncertainty, the authorities have successfully implemented their home-grown economic program. While the outlook is for a moderate economic recovery, uncertain external conditions continue to present downside risks to growth.

Portugal: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Portugal.

"Volume 2012 (2012): Issue 292 (Oct 2012): Portugal: Fifth Review Under the Extended Arrangement and Request for Waivers of Applicability and Nonobservance of End-September Performance Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Portugal." published on 25 Oct 2012 by International Monetary Fund.

Angola: Fourth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Request for Waivers of Applicability of Performance Criteria, and Request for Modification of Performance Criteria.

Angola: Fourth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Request for Waivers of Applicability of Performance Criteria, and Request for Modification of Performance Criteria.

Republic of Moldova: Second Reviews Under the Extended Arrangement and Under the Three-Year Arrangement Under the Extended Credit Facility, and Request for Waiver of Applicability of Performance Criteria-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Moldova.

Republic of Moldova: Second Reviews Under the Extended Arrangement and Under the Three-Year Arrangement Under the Extended Credit Facility, and Request for Waiver of Applicability of Performance Criteria-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Moldova.

Iceland: Fourth Review under Stand-By Arrangement, Request for Waivers of Applicability, and Request for Establishment of Performance Criteria-Staff Report; Informational Annex; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland.

Iceland: Fourth Review under Stand-By Arrangement, Request for Waivers of Applicability, and Request for Establishment of Performance Criteria-Staff Report; Informational Annex; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland.

Angola - Fifth Review Under the Stand-By Arrangement, Request for Waiver of Applicability of Performance Criteria, and Request for Modification of Performance Criteria: Staff Report; Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Angola.

The Executive Board of the IMF has completed the fifth review of Angola’s economic performance under a program supported by the Stand-By Arrangement. The Board’s decision enables the immediate disbursement of an amount equal to SDR 85.9 million, bringing total disbursements under the arrangement with Angola to an amount equal to SDR 773.01 million. The Angolan authorities should be commended for strong performance under the IMF-supported stabilization and reform program. The sustained fiscal adjustment, helped by higher oil prices, has fostered reserve accumulation, a stable exchange rate, and declining inflation.

Republic of Latvia Third Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Rephasing of Purchases Under the Arrangement, and Request for Waiver of Applicability of a Performance Criterion: Third Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Rephasing of Purchases Under the Arrangement, and Request for Waiver of Applicability of a Performance Criterion

"Volume 2010 (2010): Issue 357 (Dec 2010): Republic of Latvia: Third Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Rephasing of Purchases Under the Arrangement, and Request for Waiver of Applicability of a Performance Criterion" published on 09 Dec 2010 by International Monetary Fund.

Peru: Staff Report for the 2008 Article IV Consultation, Fourth Review and InflationConsultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria-Staff Report; Staff Statement; PublicInformation Notice and Press Release on the Executive Board Discussion; andStatement by the Executive Director for Peru

Peru: Staff Report for the 2008 Article IV Consultation, Fourth Review and InflationConsultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria-Staff Report; Staff Statement; PublicInformation Notice and Press Release on the Executive Board Discussion; andStatement by the Executive Director for Peru

Peru: Third Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru

Peru: Third Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru

Peru: Fourth and Fifth Reviews Under the Stand-By Arrangement and Request for Waiver of Applicability: 2006 Staff Report; Staff Supplement; and Press Release on the Executive Discussion Consideration

The staff report for the Fourth and Fifth Reviews Under the Stand-By Arrangement and Request for Waiver of Applicability discusses Peru’s economic performance. Peru’s financial markets have only been marginally affected by recent developments in emerging markets. Although further progress has been made with respect to structural reforms, efforts need to be stepped up in some areas. A main challenge in the period ahead will be to reconcile an increase in social spending with prudent fiscal policies.

Bolivia: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability and Modification of Performance Criteria-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Bolivia

Bolivia’s pursuit of structural reforms has begun to yield results despite the difficult social and political context. The fiscal performance under the program needs to be substantially strengthened. The recent passage of the informal corporate workout law represents a substantial advance in financial and corporate restructuring. Executive Directors are in agreement with the government on the approach to reduce banking system fragility. To sustain economic growth, the pace of structural reforms has to be invigorated. Firm implementation of the program can achieve its goals.

Bulgaria: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria--Staff Report; Staff Statement; and Press Release on the Executive Board Discussion

"Volume 2003 (2003): Issue 032 (Feb 2003): Bulgaria: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria" published on 24 Feb 2003 by International Monetary Fund.

Indonesia: Tenth Review Under the Extended Arrangement and Request for Waiver of Applicability--Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion

Indonesia: Tenth Review Under the Extended Arrangement and Request for Waiver of Applicability--Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion

Bulgaria: Third Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria--Staff Report; Staff Statement; Press Release on the Executive Board Discussion

Bulgaria's macroeconomic performance, in the face of the prolonged slowdown in the EU, has been impressive, but further efforts are required. The government's fiscal policy has underpinned recent economic success, and pressures to loosen such policies should be resisted. Fiscal reforms have progressed, but momentum needs to be maintained for some time to come. Robust growth can be sustained over the medium term only with a revitalization of structural reforms. The rapid growth in credit to the private sector is welcome, but presents challenges.

Former Yugoslav Republic of Macedonia: First Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria--Staff Report; Staff Statement; Press Release on the Executive Board Discussion

Macedonia's macroeconomic stabilization program continues to rest on the basis of fiscal and monetary policies, and has restored the fiscal balance to a sustainable level after two years of high deficits. Further structural measures are important to address impediments to growth and to reduce unemployment. Reforms are necessary to strengthen the investment climate by creating a predictable business environment, implementing judicial reforms, and addressing governance problems. The financial system stability assessment acknowledged the authorities' efforts to improve the soundness of the banking system and to address remaining vulnerabilities.