September 16, 2025
Prudent macroeconomic management has supported a resilient economy, achieved low inflation, ample policy buffers and, for the last few years, a positive current account. Yet, more is needed to lift growth and reduce poverty. The political environment remains challenging as the standoff between the administration and the Attorney General has continued with no signs of easing, but a string of positive legislative surprises has raised near-term optimism. In a global environment marked by more restrictive trade and migration, policies will need to adapt to a new reality of changing trade patterns, lower remittances and lower net emigration.
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