Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

September 10, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The economy rebounded in FY2016 after a two-year recession, and growth is expected to remain robust driven by continued infrastructure investment. Overall risks remain tilted to the downside. The issuance of a decentralized digital currency as a second legal tender would increase macroeconomic and financial integrity risks, and elevate the risk of losing the last U.S. dollar correspondent banking relationship. Insufficient fiscal consolidation before the reduction of the U.S. Compact grant after FY2023 remains the main medium- to long-term risk.

Series:

Country Report No. 18/270