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...

Real GDP growth stabilized at 4.2 percent in 2024. Led by food and energy prices, year-on-year inflation persisted, rising from 7.3 percent in March 2024 to 8.6 percent in December 2024 as deteriorating road and electricity infrastructure continued to weigh on transportation and production...

El Salvador has recovered well from the pandemic, supported by robust remittances and buoyant tourism flows, amid a sharp improvement in the country's security situation. Inflation has fallen and the external imbalances have narrowed more recently, consistent with a gradual improvement in public...

Sri Lanka underwent a political transition with presidential and parliamentary elections in late 2024. The new authorities expressed commitment to the program. Reform efforts are bearing fruit with growth recovering, low inflation, increased revenue collection, and reserves accumulation. By...

The authorities' implementation of the home-grown Economic Recovery and Transformation (BERT 2022) plan and their ambitious climate policy agenda remain strong, supported by the IMF's Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF). Economic growth in 2024 has been...

Paraguay's economic activity remained strong in 2024. GDP growth is anticipated to reach 4 percent with some upward potential due to favorable performance of financial intermediation, services, and manufacturing. Inflation is firmly under control and expectations are well anchored. Monetary...

This program review is taking place as Ukraine approaches a critical juncture. Conditions of exceptionally high uncertainty remain as Russia's war in Ukraine continues. Amid continuing attacks on energy infrastructure, comprehensive efforts to prepare for the ongoing winter, including the...

The SBA has served as insurance against adverse shocks while guiding reforms to strengthen fiscal and financial governance and foster growth. The RSF has supported climate reforms to increase generation of renewable energy, boost energy efficiency, enhance regional cooperation, and strengthen...