{
  "title": "Bhutan: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bhutan",
  "publication": "IMF Staff Country Reports, September 19, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108",
  "overlayPath": "/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/index.md",
  "summary": "The 2024 Article IV Consultation highlights that Bhutan achieved significant improvements in social conditions during the last decade, raising living standards. Poverty and inequality have declined, while extreme poverty has been eliminated.",
  "sections": [
    {
      "heading": "Key findings on social outcomes and living standards",
      "content": "- Bhutan achieved significant improvements in social conditions during the last decade, raising living standards.\n- Poverty and inequality have declined.\n- Extreme poverty has been eliminated."
    },
    {
      "heading": "Growth outlook and drivers",
      "content": "- Growth is projected to accelerate over the medium term as a large hydro-project is commissioned.\n- Capital spending is expected to be boosted with the support of external grants.\n- Pull factors are expected to slow down emigration, thereby reducing pressures on the supply side."
    },
    {
      "heading": "Fiscal stance and recommendations",
      "content": "- A gradual fiscal consolidation is needed.\n- Consolidation should be based on revenue mobilization and accompanied by some spending restraint.\n- Objectives: increase fiscal space and reduce reliance on external grants in the longer term."
    },
    {
      "heading": "Structural policy priorities",
      "content": "- Focus on fostering high-quality private sector jobs.\n- Diversify exports."
    },
    {
      "heading": "Financial sector governance and safeguards",
      "content": "- There is scope to strengthen the Royal Monetary Authority’s governance framework.\n- Step up anti-money laundering/countering the financing of terrorism (AML/CFT) efforts."
    },
    {
      "heading": "Data quality and transparency",
      "content": "- Improvements in data quality have been significant.\n- Further actions are needed to address remaining weaknesses.\n- Specific transparency gap noted: greater transparency on crypto assets operations is required."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Subject: External debt, Public debt, Revenue administration\n- Keywords: capital investment, cover loan restructuring, FDI company, foreign exchange resource, Global, IMF team\n- Pages: 91\n- Volume: 2024\n- Issue: 298\n- Series: Country Report No. 2024/298\n- DOI: https://doi.org/10.5089/9798400288241.002\n- Stock No: 1BTNEA2024001\n- ISBN: 9798400288241\n- ISSN: 1934-7685\n- Publication date on landing page: September 19, 2024\n\nBhutan: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bhutan (IMF Staff Country Reports 2024, Issue 298)\n\n---\n\n Content in this bundle\n\n- 1btnea2024001-print-pdf\n  - 1btnea2024001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1btnea2024001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/bundle-manifest.json)",
    "Published: September 19, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400288241.002",
    "Bhutan achieved significant improvements in social conditions during the last decade, raising living standards.",
    "Poverty and inequality have declined.",
    "Extreme poverty has been eliminated.",
    "Growth is projected to accelerate over the medium term as a large hydro-project is commissioned.",
    "Capital spending is expected to be boosted with the support of external grants.",
    "Pull factors are expected to slow down emigration, thereby reducing pressures on the supply side.",
    "A gradual fiscal consolidation is needed.",
    "Consolidation should be based on revenue mobilization and accompanied by some spending restraint.",
    "Objectives: increase fiscal space and reduce reliance on external grants in the longer term.",
    "Focus on fostering high-quality private sector jobs.",
    "Diversify exports.",
    "There is scope to strengthen the Royal Monetary Authority’s governance framework.",
    "Step up anti-money laundering/countering the financing of terrorism (AML/CFT) efforts.",
    "Improvements in data quality have been significant.",
    "Further actions are needed to address remaining weaknesses.",
    "Specific transparency gap noted: greater transparency on crypto assets operations is required.",
    "Subject: External debt, Public debt, Revenue administration",
    "Keywords: capital investment, cover loan restructuring, FDI company, foreign exchange resource, Global, IMF team",
    "Pages: 91",
    "Volume: 2024",
    "Issue: 298",
    "Series: Country Report No. 2024/298",
    "DOI: https://doi.org/10.5089/9798400288241.002",
    "Stock No: 1BTNEA2024001",
    "ISBN: 9798400288241",
    "ISSN: 1934-7685",
    "Publication date on landing page: September 19, 2024",
    "**1btnea2024001-print-pdf**"
  ],
  "related": [
    {
      "title": "1btnea2024001-print-pdf",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2024/english/1btnea2024001-print-pdf.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2024/english/1btnea2024001-print-pdf.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2024/english/1btnea2024001-print-pdf.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/index.md",
    "json": "/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/index.json",
    "bundleManifest": "/en/publications/cr/issues/2024/09/19/bhutan-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-555108/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-11T15:36:50.838Z"
}