Monetary Authority of Macao

02/26/2019 | Press release | Distributed by Public on 02/26/2019 01:23

The IMF Concludes its Consultation on Macao’s Macroeconomic and Financial Assessments

The International Monetary Fund (IMF) Mission completed its 12-day visit to Macao SAR on 25 February 2019 and preliminarily concluded the SAR's macroeconomic and financial assessments.

In the Staff Concluding Statement of the 2019 IMF Article IV Mission, the IMF staff affirmed the efforts taken by the Macao SAR Government on economic diversification, which would be conducive to transforming the Macao SAR economy into a less volatile and more sustainable model. The Macao SAR Government's prudent macroeconomic policies and sufficient reserves had bolstered the economy's resilience against shocks.

The IMF Mission welcomed the initiatives of Macao SAR's Monetary Authority in enhancing cross-border supervisory collaboration for reinforcing the ability to tackle financial risks. Meanwhile, the IMF staff emphasised that the linked exchange rate system between the pataca and the Hong Kong dollar had continued to serve Macao SAR well while its implementation should be supported by adequate foreign exchange reserves, sound financial system, appropriately prudent pubic finance and flexible labour market.

After this visit, the IMF would publish a detailed Staff Report of 2019 Article IV Consultation with Macao SAR within three months.

The IMF's Concluding Statement on completing the 2019 Article IV Mission to Macao SAR: