Papua New Guinea (PNG) is navigating a wide range of macroeconomic and social challenges. The economy was beset by a series of exogenous shocks over the past decade, including low commodity prices, droughts, earthquakes, and the COVID-19 pandemic, which adversely affected growth, contributed to...

Economic resilience continues, and the recalibration of monetary and exchange rate policies initiated in 2024 is bearing fruit, with the economy rebalancing, inflation contained, international reserves strengthening, and foreign exchange market conditions improving. Progress under the...

Despite a challenging external environment, Rwanda's economy grew by 8.9 percent in 2024, driven by robust performances in services, construction, and food crop production. Inflation stabilized within the central bank's target range, underpinned by a combination of tight monetary policy and...

An impressive reform track record has simultaneously spurred GDP growth and reduced public debt, economic fundamentals are very strong, and the economic outlook remains favorable. The authorities are committed to maintaining their very strong policies and frameworks

Bolivia's chronic macroeconomic imbalances have reached acute levels, exacerbated by a structural decline in gas production, sociopolitical tensions, and climate shocks. Fiscal deficits are large and are predominantly being financed by the central bank. Usable foreign exchange (FX) reserves have...

Three years of war have taken a staggering social, humanitarian, and economic toll. Efforts to end the war, and potential changes to international support retain the exceptionally high uncertainty to the outlook. Yet, the authorities' commitment to reforms and fulfillment of all necessary Fund...

The fifth review of a three-year Extended Credit Facility (ECF) arrangement (SDR 324 million, 200 percent of quota) was concluded on July 10, 2024. Resilient activity in the non-hydrocarbon sector supported economic growth in 2024, while oil production continued to surprise on the downside....

Economic recovery has continued, but growth remains subdued. Structural and governance weaknesses, ongoing internal conflicts and security concerns, social tensions around presidential elections in October 2025, and climate hazards continue to hinder the growth outlook, which is also unfavorably...

Political uncertainty remains high with another change of government in July 2024-the fifth since the beginning of the Fund-supported program. Substantial flooding and landslides in September 2024 further weighed on sluggish domestic demand, though conversely helping strengthen the external...