## IMF Staff Concludes Visit to San Marino

_IMF News, April 8, 2022_

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**Canonical URL:** [IMF Staff Concludes Visit to San Marino](https://www.imf.org/en/news/articles/2022/04/08/pr22110-imf-staff-concludes-visit-to-san-marino)

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## Bibliographic details
- Published: April 8, 2022

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### Visit details
- Press Release No. 22/110
- April 8, 2022
- IMF mission led by Borja Gracia
- Mission dates: April 4-8, 2022

### Recent economic developments and assessment
- San Marino enjoyed a robust recovery last year supported by booming exports and a rebound in tourism.
- GDP growth estimated above 5 percent.
- Activity in various sectors and employment exceeded pre-pandemic levels.
- By the end of last year and more recently with the war in Ukraine, the global environment experienced a sudden deterioration.
- Higher commodity prices, supply disruptions, and heightened uncertainty will lower growth and increase inflation but the full impact is still uncertain.

### Discussion topics and concerns
- Impact of the new global environment on the Sammarinese economy and the outlook going forward.
- Implications of volatile global financial markets for San Marino’s debt management strategy.
- Authorities are considering several options reflecting the different scenarios that could materialize going forward.

### Policy implications and next steps
- Continued implementation of structural reforms to increase the potential of the economy and make it more resilient in an increasingly unpredictable world.
- Discussions will continue in the context of the Article IV consultation scheduled to take place in October.

*International Monetary Fund*

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## References

- [Republic of San Marino and the IMF](http://www.imf.org/external/country/SMR/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2022/04/08/pr22110-imf-staff-concludes-visit-to-san-marino_