Regional Economic Outlook

April 29, 2024

April 2024 Regional Economic Outlook for Asia and Pacfic

Steady Growth amid Diverging Prospects

Growth in Asia and the Pacific outperformed expectations in late 2023, reaching 5.0 percent for the year. Inflation has continued to decline, albeit at varying speeds: some economies are still seeing sustained price pressures, while others are facing deflationary risks.In 2024, growth is projected to slow modestly to 4.5 percent. Near-term risks are now broadly balanced, as global disinflation and the prospect of monetary easing have increased the likelihood of a soft landing. Spillovers from a deeper property sector correction in China remain an important risk, however, while geoeconomic fragmentation clouds medium-term prospects. Given the diverse inflation landscape, central bank policies need to calibrate policies carefully to domestic needs. Fiscal consolidation should accelerate to contain debt burdens and debt service cost, in order to preserve budgetary space for addressing structural challenges, including population aging and climate change.
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This web page presents information about the work of the IMF in Hong Kong, including the activities of the IMF Resident Representative Office. Additional information can be found on the Hong Kong and IMF  country page, including IMF reports and Executive Board documents that deal with Hong Kong.

Hong Kong and IMF

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At a Glance : Hong Kong's Relations with the IMF

  • Current IMF membership: 190 countries
  • As a Special Administrative Region of the People’s Republic of China, Hong Kong SAR is not a member of the Fund
  • Annual consultation discussions have been held with the Hong Kong SAR authorities since October 1990
  • The last Article IV Executive Board Consultation was on January 24, 2019 (Country Report 19/20)

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News and Highlights

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Hong Kong and the IMF

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