The economy was buffeted by the COVID-19 pandemic after much progress in economic stabilisation and reforms in recent years. The first confirmed case of the virus was reported on March 10, 2020. The number of confirmed cases have since increased to 12,915 persons based on 138,968 administered tests as at December 31, with 302 related deaths. The pandemic led to a sharp contraction in economic activity and rising unemployment. It disrupted fiscal operations and placed upward pressure on the public debt. Despite the adverse outcomes, prudent fiscal policy in the past and careful management of the pandemic led to an affirming of the country’s credit rating of B+, although the outlook remains negative, given the uncertainty, related to the pandemic. Economic activity is expected to return to positive, albeit moderate growth in 2021.