OGResearch Macro Portal Newsletter -- April 2024


April 3, 2024


  • Tourism will provide a boost to the economy this year
  • Inflation will be temporarily increased by electricity tariff adjustments
  • The ariary will continue depreciating amid high inflation and a slow productivity growth

Papua New Guinea

  • Structural bottlenecks will hinder the non-resource economic growth
  • Higher import prices will push inflation above 5% in 2024
  • The IMF program will push to increase the FX flexibility, resulting in a moderate FX correction

Sierra Leone

  • Fiscal tightening will erode households’ purchasing power and weigh on economic performance
  • The inflation will normalize only gradually, and will remain high in the long-run
  • The leone will continue depreciating due to high inflation


  • The authorities will continue opening the country to foreign capital, leading to higher growth prospects
  • Strong demand and tariff hikes will push inflation above 10 % this year
  • We expect the som to maintain a steady depreciation

Read the forecasts in details on our Macro Portal.


Upcoming forecast updates:

  • Azerbaijan (Apr 15)
  • Mongolia (Apr 2)
  • Mozambique (Apr 15)
  • Tunisia (Apr 2)