IMF Country Focus

• Strong Policies Help Korea Navigate Uncertain Times

  May 12, 2022

  

  Korea's economic recovery has been resilient, but inflation has been rising and the war in Ukraine and developments in China continue to weigh on the outlook for exports and activity.

• Belize: Swapping Debt for Nature

  May 4, 2022

  

  A debt-for-nature swap has cut the Caribbean country’s stock of external debt and is creating cash to protect the longest coral reef in the Western Hemisphere. There is scope for similar swaps to fund conservation or climate work in other countries with expensive debt on their books.

• Latin America Hit By One Inflationary Shock On Top of Another

  April 15, 2022

  

  After years of fluctuating around targets, inflation in Latin America’s largest economies is the highest it’s been in 15 years, having suffered two major shocks: the impact of the pandemic, and of the Russia-Ukraine war.

• Europe's Job Retention Schemes Contained Unemployment, But Challenges Remain

  March 30, 2022

  

  COVID-19 caused the most severe shock to the European economy for at least 75 years, with significant disruptions to the labor market.

• Costa Rica Prioritizes Public Health

  March 9, 2022

  

  Pura vida, the “pure life.” It’s an expression you’ll often hear in Costa Rica. One that represents the laid-back lifestyle the country is known for and gives a sense of why Costa Ricans are as happy as they are.

• UK Economy Rebounding Amid Growing Inflationary Pressures

  February 23, 2022

  

  Thanks to a rapid vaccination campaign and highly accommodative policies, the United Kingdom’s economic recovery has proceeded faster than expected. The near-term growth outlook remains strong—but so too are inflationary pressures.

• Jamaica Works to Maintain its Hard-Won Economic Stability

  February 22, 2022

  

  Prior to the pandemic, Jamaica had successfully stabilized the economy, turning a fiscal deficit of 11 percent of GDP in 2009 into a 1 percent surplus in 2019, and reducing public debt from 142 percent of GDP in 2009 to 94 percent by 2019. The stabilization paid off through a sharp decline in interest rates, and the government’s interest bill fell from 17 percent of GDP in 2009 to 6 percent in 2019.

• How South Africa Can Advance Reforms to Achieve its Climate Goals

  February 18, 2022

  

  In our recent review of South Africa’s economy we explore how to raise growth, reduce inequality and unemployment, and bolster the economy’s green credentials and climate resilience.

• El Salvador's Comeback Constrained by Increased Risks

  February 16, 2022

  

  El Salvador’s increase in public debt will constrain medium-term growth prospects given the risks associated with high and growing financing needs. In an interview with Country Focus, the IMF El Salvador team, led by Alina Carare, talks about the country’s rebound and challenges, and the decision to make Bitcoin legal tender.

• Euro Area is Recovering Strongly, But Challenges Lie Ahead

  February 7, 2022

  

  Economic policies in the euro area have forcefully supported household incomes and protected corporate balance sheets. High levels of vaccination and increasing adaptation to the pandemic have also helped to foster a strong economic recovery.

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