## Cambodia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cambodia

_IMF Staff Country Reports, January 27, 2025_

## Source details

**Canonical URL:** [Cambodia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cambodia](https://www.imf.org/en/publications/cr/issues/2025/01/27/cambodia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561261)

## Other formats

- [Markdown version](/en/publications/cr/issues/2025/01/27/cambodia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561261/index.md)
- [Structured JSON version](/en/publications/cr/issues/2025/01/27/cambodia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561261/index.json)
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## Bibliographic details
- Published: January 27, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400299711.002

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### Economic outlook and key projections
- Cambodia’s economy has continued to recover, albeit at a modest pace.
- Real gross domestic product growth is projected at 5 3/4 percent in 2025, up from 5 1/2 percent in 2024.
- Recovery is supported by the continued recovery in exports and tourism.

### Financial sector developments and risks
- The sharp slowdown in credit growth has exposed the economy to increased financial sector vulnerabilities.
- Monetary policy needs to resume normalization at a calibrated pace, with a focus on ensuring financial stability and supporting de-dollarization.

### Fiscal and macro policy stance
- The neutral stance is appropriate in the near term.
- A gradual and high-quality consolidation to build buffers is critical over the medium term.

### Structural reforms and governance
- Structural reforms need to focus on diversifying growth drivers.
- Strengthening governance frameworks to improve transparency is emphasized.
- Enhancing institutional capacity to address data limitations will lend support to structural transformation.

### Policy priorities and recommendations
- Ensure policy formulation that secures a durable and inclusive recovery in the near term and achievement of development goals over the medium term.
- Resume monetary policy normalization at a calibrated pace to balance financial stability and de-dollarization objectives.
- Implement gradual, high-quality fiscal consolidation to build buffers over the medium term.
- Advance structural reforms to diversify growth drivers and strengthen governance and data institutions to support structural transformation.

*Source: Cambodia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cambodia*

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## Content in this bundle

- **1. Credit-to-GDP Gap Estimates**
  - [1. Credit-to-GDP Gap Estimates (Markdown version)](/-/media/files/publications/cr/2025/english/1khmea2025001-print-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [1. Credit-to-GDP Gap Estimates (PDF)](/-/media/files/publications/cr/2025/english/1khmea2025001-print-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2025/01/27/cambodia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561261_