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Cambodia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cambodia
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2025: Issue 022
Language:
English
Publication Date:
27 Jan 2025
DOI:
https://doi.org/10.5089/9798400299711.002
ISBN:
9798400299711
ISSN:
1934-7685
Pages:
107
Keywords:
IMF-World Bank FSAP mission; introduced Medium Term Fiscal Framework; authorities' plan; broad money; credit supply; IMF's article; Financial sector stability; Government finance statistics; Global; Middle East
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The 2024 Article IV Consultation highlights that Cambodia’s economy has continued to recover, albeit at a modest pace. The sharp slowdown in credit growth has exposed the economy to increased financial sector vulnerabilities. Policy formulation must ensure a durable and inclusive recovery in the near term and achieving development goals over the medium term. Real gross domestic product growth is projected at 5 3/4 percent in 2025, up from 5 1/2 percent in 2024, supported by the continued recovery in exports and tourism. The neutral stance is appropriate in the near term, while a gradual and high-quality consolidation to build buffers is critical over the medium term. Monetary policy needs to resume normalization at a calibrated pace, with a focus on ensuring financial stability and supporting de-dollarization. Structural reforms need to focus on diversifying growth drivers. Strengthening governance frameworks to improve transparency and enhancing the institutional capacity to address data limitations will lend support to structural transformation.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund