Iceland 2021 Article Iv Consultation Press Release Staff Report Staff Statement And Statement By The Executive Director For Iceland PDF Download
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| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 77 |
| Release | : 2021-06-08 |
| Genre | : Business & Economics |
| ISBN | : 1513573144 |
Download Iceland: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Iceland Book in PDF, ePub and Kindle
The Icelandic economy has been severely affected by the pandemic. Sharp tourism contraction and containment measures caused real GDP to plummet by 6.6 percent in 2020. A modest recovery will take hold in 2021. Recovery prospects in the tourism sector depend on control of the epidemic and progress in global and domestic vaccine distribution, spelling a challenging outlook with possibly deep medium-term scarring. Fiscal policy should continue to support the economy for now. Policy buffers accumulated over the last decade provided space for a large fiscal support and accommodated substantial automatic stabilizers. Additional stimulus is planned in 2021 to address still large slack in the economy, mitigate scarring, and provide confidence in the event of downside risks. Medium-term policies should ensure that public debt is firmly on a downward path, while limiting the drag on growth.
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| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 57 |
| Release | : 2018-11-14 |
| Genre | : Business & Economics |
| ISBN | : 1484384741 |
Download Iceland Book in PDF, ePub and Kindle
Iceland is experiencing an economic slowdown that has reduced overheating concerns. Tourism growth has decelerated and the króna has stopped appreciating. Demand management has become easier, allowing the authorities to focus on medium-term priorities, including infrastructure, healthcare, education, and the environment. Risks, however, have become more evident. High fuel prices and other factors are challenging the airline business; world trade tensions are escalating; and the United Kingdom—a vital trading partner—is not yet assured of a smooth EU exit. Icelandic policies thus need to focus on further increasing resilience to shocks.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 69 |
| Release | : 2021-06-28 |
| Genre | : Business & Economics |
| ISBN | : 1513588583 |
Download Mauritius: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mauritius Book in PDF, ePub and Kindle
Economic Impact of the Pandemic and Policy Responses. Mauritius has been successful in containing the COVID-19 pandemic thanks to strict health measures but the halt in tourism has significantly affected its tourism-dependent economy. A comprehensive set of stimulus measures to mitigate the economic impact of the pandemic, including a wage subsidy and income support for the self-employed, have provided support to firms and households.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 88 |
| Release | : 2022-02-16 |
| Genre | : Business & Economics |
| ISBN | : |
Download Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain Book in PDF, ePub and Kindle
The Spanish economy is recovering from the deep recession caused by the COVID pandemic and employment is already above its pre-pandemic level. A highly successful vaccination campaign helped limit the impact of the recent wave of infections on hospitalizations and economic activity. Output is expected to return to its pre-pandemic level by the end of 2022. However, there is significant uncertainty around the recovery path related to the evolution of the pandemic and the duration of global supply bottlenecks. The pace of absorption and the effectiveness of use of Next Generation EU (NGEU) funds will also affect growth in the coming years. In the near term, the key policy challenge is to continue to provide targeted pandemic support while facilitating resource reallocation and a transformation to a greener and more inclusive economy.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 74 |
| Release | : 2022-01-31 |
| Genre | : Business & Economics |
| ISBN | : |
Download Finland: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland Book in PDF, ePub and Kindle
With strong policy support, Finland suffered a relatively mild economic contraction in 2020 followed by a swift recovery in 2021. Medium-term growth prospects are less strong, due to adverse demographics and low productivity growth—trends that precede the pandemic. Public debt has increased due to pandemic-related support and will remain on a rising trajectory in the medium term, largely reflecting permanent spending increases.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 90 |
| Release | : 2023-06-23 |
| Genre | : Business & Economics |
| ISBN | : |
Download Iceland Book in PDF, ePub and Kindle
Iceland has recovered from the shocks of recent years faster than envisaged and scarring from the pandemic is expected to be minimal. The recovery reflects pent-up demand from the pandemic, a rebound of the tourism industry, rapid immigration, and the fact that, unlike most European countries, Iceland experienced an improvement in its terms of trade in 2022. The economy is currently operating above potential. Absent an adjustment in policies, imbalances are likely to increase. Risks are tilted to the downside.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 66 |
| Release | : 2022-04-11 |
| Genre | : Business & Economics |
| ISBN | : |
Download Republic of Kazakhstan: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Kazakhstan Book in PDF, ePub and Kindle
Activity returned to its pre-COVID level in 2021. Inflation remains well above the NBK’s 4–6 percent target band, and spillovers from sanctions on Russia will exacerbate price pressures and weaken economic growth in 2022. Kazakhstan benefits from strong fiscal and external buffers but risks to the outlook are elevated due to the uncertain impact on Kazakhstan of the sanctions on Russia and heightened domestic tensions since the January social unrest episode. In the medium term, non-oil growth under the baseline is expected to converge to about 4 percent. Sustainable growth will require greater economic diversification. Climate-related challenges are acute for Kazakhstan given its outsized hydrocarbon sector, high per-capita greenhouse gas emissions, and low domestic energy prices.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 82 |
| Release | : 2021-07-30 |
| Genre | : Business & Economics |
| ISBN | : 1513588141 |
Download Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama Book in PDF, ePub and Kindle
After over two decades of unprecedented economic expansion, Panama’s economy contracted sharply in 2020 amidst challenges from the COVID-19 pandemic. As conditions rapidly deteriorated, Panama requested financial support under the Rapid Financing Instrument (RFI) for 100 percent of quota equivalent to US$0.5 billion (SDR 0.4 billion) to address immediate balance of payments needs, which the IMF Executive Board approved on April 15, 2020. Subsequently, uncertainties magnified, and Panama requested a two-year arrangement under the Precautionary and Liquidity Line (PLL) for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.9 billion), as insurance against extreme external shocks, which was approved by the IMF Executive Board on January 19, 2021.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 70 |
| Release | : 2021-11-23 |
| Genre | : Business & Economics |
| ISBN | : 1513598449 |
Download Republic of San Marino: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino Book in PDF, ePub and Kindle
San Marino entered the pandemic with substantial vulnerabilities and still struggling from the consequences of the Global Financial Crisis (GFC). However, the economy has shown significant resilience supported by a timely and targeted policy response. Fiscal support was substantially scaled up after external borrowing was secured, including through a debut Eurobond. The banking system was rationalized, partly capitalized, its liquidity substantially improved, and a strategy is being adopted to address exceptionally high nonperforming loans (NPLs). Some of these measures, while effective, have increased official public debt substantially.
