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...

This paper evaluates the transition from X12-ARIMA to X13-ARIMA-SEATS for the seasonal adjustment of Armenia's quarterly national accounts (QNA). We analyze the methodological advancements and their impact on key economic indicators, focusing on the precision and reliability of seasonally...

Liberia continues to face substantial long-term development challenges. Resource constraints and substantial gaps in infrastructure and human capital have hindered Liberia's growth prospects and the authorities' efforts to improve living standards. Addressing these challenges will require...

Cabo Verde's recent strong economic growth is driven by tourism, exports, private consumption, and remittances, but hampered by slow government investment. The government has maintained macro-financial stability but faces risks from global uncertainties, supply chain issues, and commodity price...

Economic activity has slowed reflecting falling natural gas production, lower public investment execution, financial volatility, and disruptions due to socio-political tensions. Bolivia's inflation rate remains one of the lowest in the region, sustained by price controls and costly subsidies....

The Board approved Ethiopia's request for a four-year arrangement under the Extended Credit Facility (ECF arrangement) in July 2024 to support the authorities' Homegrown Economic Reform Agenda. The Fund-supported program addresses macroeconomic imbalances, aiming to restore external debt...