Political uncertainty remains high with another change of government in July 2024-the fifth since the beginning of the Fund-supported program. Substantial flooding and landslides in September 2024 further weighed on sluggish domestic demand, though conversely helping strengthen the external...

Brunei's economy remains strong, with its resilience boosted by comfortable buffers and continued prudent macroeconomic policies. The outlook is stable. As in the 2024 Article IV Consultation, risks remain balanced; global policy uncertainty is mitigated, inter alia, by robust commodity prices

Malaysia's economic performance has significantly improved in 2024, supported by strong domestic and external demand. Disinflation is taking hold and external pressures have eased. The favorable economic conditions provide a window of opportunity to build macroeconomic policy buffers and...

Sri Lanka underwent a political transition with presidential and parliamentary elections in late 2024. The new authorities expressed commitment to the program. Reform efforts are bearing fruit with growth recovering, low inflation, increased revenue collection, and reserves accumulation. By...

This Selected Issues paper explores New Zealand's productivity growth in a cross-country perspective, reflects on business dynamism in New Zealand and its implications for productivity, and considers some of the factors shaping the costs and incentives for investment and innovation toward a more...

The 2025 Article IV Consultation with New Zealand discusses that tight monetary policy has helped bring inflation back to target after a prolonged period of elevated price pressures, but at the expense of growth. A nascent recovery is underway as monetary policy is easing again. House prices...

This paper presents People's Republic of China's Financial System Stability Assessment (FSSA) report. The FSSA found that since the last FSAP in 2017, the authorities have made notable progress in strengthening financial supervision and regulation, continuously implementing international...

The 2025 Article IV Consultation highlights that after three decades of near-zero inflation, signs are growing that Japan's economy is reaching a new equilibrium with inflation sustained at the Bank of Japan's two percent headline inflation target. However, Japan continues to face challenges,...

Economic recovery has continued, driven mainly by tourism. Inflation decelerated sharply in 2024 as the impact of the 2023 VAT hike faded. The fiscal stance was tightened, but monetary and financial conditions remain highly accommodative. Progress has been made in enhancing the business...