Steady progress on negotiations with the IMF and EU and continuous alignment to international standards, although economic activity is slowing from the estimated peak in 2019 Successful negotiations with the IMF and EU would increase Andorra's resilience to financial crises. Alignment towards international standards would improve transparency and quality of statistical data and help reduce latent reputational risks. S&P Global Ratings forecasts the country's economic growth returning to a similar trend as that estimated for its main trading partners after its solid 2019 performance. Sound fiscal performance and reducing general government debt would ensure Andorra's net asset position, although high contingent liabilities remain. Alignment to the prudent fiscal policies approved by previous government alongside higher-than-expected economic growth ensure the country's
