Mining, non-mining support economic resilience

The International Monetary Fund (IMF) has observed that the local economy has shown greater resilience than previously anticipated in 2024.

Ongoing engagement with local authorities and other stakeholders by the IMF indicate that the resilience was supported by stronger-than-projected performance in both the mining and non-mining sectors”.

“We also took stock of the authorities’ progress in meeting key commitments under the IMF-supported program.

“These efforts will be formally assessed in the context of the fifth review of the Extended Credit Facility arrangement, which is expected to be initiated with a mission in early May 2025,” said Mercedes Vera Martin, who led a team that engaged with the authorities on recent macroeconomic developments and the economic outlook.

The IMF visited the country from February 19 to 25, 2025.

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