This technical note focuses on fixed income markets for Thailand. The note recommends that Thailand should begin an orderly transition from merit-based regulation of corporate issuers and institutional investors to a disclosure-based regulatory system that opens the debt market to a larger and...

This 2007 Article IV Consultation highlights that Switzerland’s economy is performing well. The expansion moved into its fourth year with above average growth and employment, and few signs of inflation. This favorable outcome can be traced to a vibrant external environment, including in...

This technical note on strategic issues in Development Bank (DB) reform for Mexico examines advances in the area of DB and funds in 2000–05. There have been significant but uneven changes in the institutional setting, instruments, transparency of subsidies, and performance behavior of DBs...

This Article IV Consultation reports that Malta’s economy continues to perform well amidst considerable turbulence in the euro area. While spillovers have remained contained to date, Malta’s large financial sector and highly open economy heighten contagion and financial stability...

This Selected Issues paper discusses the impact of global financial turmoil on Japan. It describes how close integration in global financial markets has deepened and expanded the channels for spillovers. The paper discusses options for increasing the consumption tax to finance the public pension...

This 2008 Article IV Consultation on euro area policies highlights that 10 years after its launch, monetary union is a distinct success and the euro area a zone of stability in the international economy. However, economic union remains work in progress. Improved wage setting and labor market...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper discusses details of Cameroon’ Financial System Stability Assessment (FSSA). The FSSA is based on the work of a joint IMF-World Bank mission that visited Cameroon as part of the Financial Sector Assessment Program in June 2007. Excess liquidity may be inducing banks to narrow...

This Selected Issues paper on the United Arab Emirates highlights the macroprudential policies. The fixed exchange rate and persistent structural liquidity surpluses in upswings add to the difficulties in managing aggregate demand contain credit expansion. The exchange rate peg and the open...

This report analyzes the Israeli economy and its financial system in detail. A strong macroprudential framework is believed to be an effective tool in identifying in advance and extenuating threats that arise within the financial domain. It is also stated that the present fragile global economic...