What's New Archive
Page: 2 of 2018
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June 5 , 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Cyprus on a lapse-of-time basis. Cyprus’s economy has been resilient to the fallout from Russia’s invasion of Ukraine. Output grew by 5.6 percent in 2022, as pandemic-affected pent-up demand boosted consumption, tourist arrivals rebounded, and the ICT sector expanded. Employment recovered and unemployment dropped to a post-Cyprus-financial-crisis low. However, high energy prices contributed to inflation and a larger current account deficit. The fiscal surplus reached 2.3 percent of GDP and public debt declined strongly. Liquidity and capital adequacy ratios in the banking sector have remained high, and profitability improved. Private sector deleveraging continues to be hindered by the slow resolution of legacy non-performing loans (NPLs).
June 5 , 2023
An International Monetary Fund (IMF) staff team, led by Mr. Takuji Komatsuzaki, visited Oranjestad during May 22–June 2 to hold discussions on the 2023 Article IV consultation with the Aruban authorities. At the end of the consultation discussions, the mission issued the following statement, which summarizes its main conclusions and recommendations.
June 5 , 2023
Benefiting from high oil production and prices, Kuwait’s economic recovery continues. Inflation has been contained, while the fiscal and external balances have strengthened, and financial stability has been maintained. The dominance of oil in the economy, coupled with global decarbonization trends, necessitates fiscal reforms to reinforce sustainability, and structural reforms to boost non-oil private sector-led growth. Political gridlock between the government and Parliament has hindered reform progress, which could be made now from a position of strength.
June 2 , 2023
Good Morning! Thank you to Prime Minister Plenkovic and Governor Vujcic for the kind invitation, and to all of you for joining us at this third Croatian National Bank-IMF conference. It is a pleasure to come to Dubrovnik, a city I admired well before its Game of Thrones fame. Our conference is so appropriately hosted here, a place that offers refuge from stormy waters.
June 2 , 2023
Working Paper No. 2023/119
June 2 , 2023
Working Paper No. 2023/118
June 2 , 2023
Policy Paper No. 2023/023
June 2 , 2023
Working Paper No. 2023/114
June 2 , 2023
Working Paper No. 2023/117
June 2 , 2023
Working Paper No. 2023/113
June 2 , 2023
Working Paper No. 2023/115
June 2 , 2023
Working Paper No. 2023/116
June 2 , 2023
Country Report No. 2023/191
June 2 , 2023
The conference "Policymaking in Choppy Waters: Fostering Resilience in Central Eastern and Southeastern Europe (CESEE)," organized jointly by the Croatian National Bank (CNB) and the International Monetary Fund (IMF), started today in Dubrovnik. This is the third time the CNB and the IMF have teamed up to co-host such a conference.
June 2 , 2023
June 1 , 2023
Country Report No. 2023/185
June 1 , 2023
Malaysia registered a strong post-pandemic recovery in 2022. Its strong macroeconomic policy frameworks, including a track record of fiscal prudence and a credible monetary policy framework, have served the country well. Growth reached 8.7 percent in 2022 driven by pent-up domestic demand following the reopening of the economy in April 2022 and strong export performance. However, the recovery remains uneven, with agriculture, mining, and particularly construction sectors remaining below pre-pandemic levels, and inequality has risen during COVID-19. While costly and untargeted spending on subsidies, the highest in Malaysia’s history, helped suppress inflationary pressures, inflation remained broad-based and elevated at 3.4 percent for the year, despite recent signs of moderation. Inflation expectations, however, remained well anchored.
June 1 , 2023
Successive external shocks in recent years have exacerbated already fragile economic conditions in Comoros. The surge in global commodity prices and transportation costs during 2022 severely impacted households’ purchasing powers in this import-dependent island economy and substantially worsened the fiscal outlook. These shocks have coincided with increased fiscal and debt service needs, as well as the expiration of pandemic-era support and retrenchment in international aid, which have significantly tightened financing constraints.
June 1 , 2023
Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today in Colombo at the conclusion of his visit to Sri Lanka, which followed the approval on March 20, 2023, by the IMF Executive Board of 48-Month arrangements of about US$ 3 billion under the Extended Fund Facility (EFF) with Sri Lanka
June 1 , 2023
As rising geopolitical tensions chip away at globalization, will a more fragmented world mean stronger regional pacts? Economist Michele Ruta says the trend toward strengthening ties with friends and loosening them with non-friends is making regional trade less about integration and more about discrimination.
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