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International Monetary Fund. Asia and Pacific Dept

1. Prior to the pandemic, Bhutan had made significant strides in improving per capita income and reducing poverty, qualifying for its graduation from the Least Developed Country (LDC) status in 2023. Looking ahead, Bhutan faces the challenges of diversifying the economy, while facing continued uncertainty about the future path of the pandemic and minimizing any persistent impact.

International Monetary Fund. Asia and Pacific Dept

IMF Country Report No. 22/146

International Monetary Fund. Asia and Pacific Dept
The pandemic has had a substantial impact on the economy, straining pre-pandemic gains in income and poverty reduction. The wide-ranging policy measures, including containment protocols, rapid vaccination and booster campaigns, direct income support, and policy support for borrowers and businesses, mitigated the adverse impact on lives and well-being. As the pandemic recedes and in light of the uncertainties from the war in Ukraine, the focus needs to be on securing livelihoods and ensuring strong and job-rich medium-term growth, while minimizing any persistent adverse effects from the pandemic and mitigating risks.
International Monetary Fund. Asia and Pacific Dept

On behalf of our Bhutan authorities, we thank the IMF team led by Mr Ahmed for the productive engagement during the Article IV consultations. Our authorities are appreciative of their deep understanding of the macro-economic situation in Bhutan and the constructive discussions on a wide range of policy issues. They highly value the staff report, assessments, and recommendations. Our remarks will focus on the macroeconomic outlook and important policy issues.