Category: Finance and Budget

On the evening of 15 November 2024, the Morningstar DBRS ratings agency published a report confirming the rating for the Republic of San Marino at BBB (low).

San Marino rated “BBB-/A-3” by S&P Global Ratings

The economic situation in San Marino is showing positive signs, as highlighted in the S&P report. The main aspects and considerations for the country’s growth and economic stability emerging from the report are as follows:

The meeting with Steven Costers, Counsellor General of the Belgian Ministry of Finance, highlighted some key aspects for strengthening relations.

Yesterday, Friday 26 October, Marco Gatti, Minister of Finance and Budget, and Rossano Fabbri, Minister of Industry, Trade and Handicraft, met Alfred Kammer, Director of the IMF European Department, in a cordial atmosphere.

During the meeting, Mr Kammer praised San Marino’s progress, highlighting the steady improvement in the economy and budget, a view also shared by the IMF team that recently visited the country.

The San Marino delegation, composed of the Minister of Finance and Budget, Marco Gatti, the Minister of Industry, Rossano Fabbri, and the top management of the Central Bank of San Marino (CBSM), is currently in Washington for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.

On 17 October 2024, the Minister of Finance and Budget, Marco Gatti, together with some Government colleagues, attended a meeting with the EFTA Group. He said:

“The Association Agreement that San Marino is seeking is an important step towards its integration into the European Union. This is not just a new beginning, but the further development of relations already consolidated through various agreements that have contributed to the growth of San Marino’s economy, such as the Cooperation and Customs Union Agreement and the Monetary Agreement.

The positive analysis of San Marino economy shows resilience and sustained growth, as underlined by recent statements by the International Monetary Fund.

The securitization operation exceeded expectations and the Republic of San Marino received a long-term rating BBB- from DBRS Morningstar.