Regional Economic Outlook
May 1, 2023
Despite weakening external demand and monetary tightening, domestic demand has so far remained strong, with China’s reopening providing fresh impetus. IMF Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy. Global growth is poised to decelerate as rising interest rates and Russia’s war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape. Asia’s domestic demand has so far remained strong despite monetary tightening, while external appetite for technology products and other exports is weakening. We project the region will contribute around 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent in last year. China’s reopening will provide fresh momentum. Normally the strongest effect would be from demand for investment goods in China, but this time the biggest effect is from demand for consumption. Other emerging economies in the region are on track to enjoy solid growth, though in some cases at slightly lower rates than seen last year.Read the Report
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.
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)
News and Highlights
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Money, Transformed: The Future of Currency in A Digital World
Finance and Development Magazine, June 2018
May 30, 2018
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Millennials and the Future of Work
Finance & Development Magazine, June 2017 Issue
September 8, 2017
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World Economic Outlook Update, July 2017
The Global Economy Maintains Momentum
July 25, 2017
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What We Have Seen and Learned 20 Years After the Asian Financial Crisis
Blog by Mitsuhiro Furusawa
July 13, 2017
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Asia's Dynamic Economies Continue to Lead Global Growth
Regional Economic Outlook News Article
May 9, 2017
Hong Kong and the IMF
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May 31, 2023
In concluding the 2023 Article IV consultation discussions with Hong Kong Special Administrative Region, Executive directors endorsed staff appraisal as follows: The Hong Kong SAR economy is recovering strongly with post-COVID normalization of economic activity. Near-term risks to the growth outlook are balanced, with systemic risk in the financial sector manageable, given significant buffers.
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May 31, 2023
Series:Country Report No. 2023/186
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May 4, 2023
Strong fiscal policy support has helped the economy navigate through multiple shocks over the last few years, while strong institutional frameworks and financial buffers have allowed the financial system to remain resilient and continue to operate smoothly, including the Linked Exchange Rate System (LERS).
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March 8, 2022
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March 8, 2022
Series:Country Report No. 2022/069