The International Monetary Fund (IMF) said that competitiveness gains resulting from the sharp depreciation of the currency and the existence of a highly skilled population are likely to prop up recovery. The IMF, however, warned that the lack of progress on reforms would have long-lasting consequences on the economy despite the growth in seasonal tourism receipts and the efforts deployed by the Central Bank (BDL).
IMF Staff: Competitiveness gains could buoy recovery
The country’s growth outlook is likely to remain subdued due to high uncertainty, lack of bank credit, expensive and very limited electricity supply, a possible acceleration of emigration especially among skilled professionals, and the deterioration of quality of
