The International Monetary Fund (IMF) published the staff concluding statement from its 2025 Article IV mission to the Principality of Andorra, highlighting the banking sector’s soundness and the importance of Andorra’s financial supervision tools. The statement underlines the value of strengthening resilience during periods of strong performance, citing as an example the countercyclical capital buffer set by the Andorran Financial Authority in 2023 and effective from 2024. It also points to the internationalisation of Andorran banks and the association agreement as key drivers of change, noting that authorities and banks will need to coordinate to prepare the sector’s transition. The IMF notes that the concluding statement is non-binding and reflects initial staff impressions ahead of a full report to be prepared for the IMF Executive Board.
Andorran Financial Authority 2025-02-11
International Monetary Fund publishes 2025 Article IV concluding statement for Andorra highlighting bank soundness and the AFA countercyclical buffer
The IMF's 2025 Article IV mission statement for Andorra emphasizes banking sector soundness and financial supervision tools. It highlights resilience, citing the countercyclical capital buffer set by the Andorran Financial Authority and banks' internationalisation as key factors. This non-binding document reflects initial staff impressions before a full report to the IMF Executive Board.