The International Monetary Fund (IMF) today published a report that reaffirms Hong Kongâs position as an international financial centre.
Prepared following the conclusion of the IMF Executive Boardâs "2024 Article IV consultation" with Hong Kong, the report recognises that Hong Kongâs financial system remains resilient, supported by robust institutional frameworks, ample policy buffers, and the smooth functioning of the Linked Exchange Rate System.
In addition to commending the Hong Kong Special Administrative Region Government for prioritising policies to support economic recovery, manage financial stability risks, and address structural challenges, the IMF added that the Governmentâs path of gradual medium-term fiscal consolidation is appropriate.
With regard to the Linked Exchange Rate System, it said that it remains an appropriate arrangement for Hong Kong given the cityâs highly open economy and its large and globally integrated financial services industry.
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