Abstract
Resource constraints, macroeconomic imbalances, and longstanding fragility continue to challenge the authorities’ efforts to improve living standards. An initial rush to deliver election promises has, at times, led to shortcomings in their execution. After grappling with these challenges for over a year, a consensus on the need for broad-based reform has emerged, leading to a request for a Fund-supported program. The authorities are requesting Fund support in the form of a four-year arrangement under the Extended Credit Facility of SDR155 million (60 percent of quota) to guide policies and reforms aimed at restoring macroeconomic stability, providing a foundation for sustainable growth, and addressing weaknesses in governance.
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