Switzerland has had a mixed macroeconomic performance over the past quarter century. After stagnating in the 1990s, the Swiss economy has finally shown some spark. Registered unemployment has declined sharply during the upswing and was below 2 percent in early 2001 amidst reports of increasing...

For the past quarter century, Switzerland’s real per capita growth rate has been substantially slower than in most other industrial countries. Unemployment has declined rapidly to 2.4 percent of the labor force in November 1999 from its 1997 peak of more than 5 percent. Inflation has edged up...

This 2004 Article IV Consultation highlights that there are signs that the economy of Switzerland has started to grow again on the back of stronger exports and domestic investment and supported by accommodative monetary and fiscal policies. Unemployment has risen, but at 4 percent is low by...

Switzerland showed impressive growth performance owing to its strong macroeconomic policies and structural reform efforts. Executive Directors emphasized the need to maintain financial stability. They welcomed the well-timed injections of liquidity into the banking system. Directors also...

This paper reviews the trade-offs in Switzerland, focusing on challenges for fiscal policy coordination. It reviews the benefits and costs of a highly decentralized government, describes the Swiss institutional architecture, and analyzes Switzerland’s fiscal performance. It also discusses the...

Switzerland showed commendable economic growth with low inflation and increasing employment. Executive Directors commended the prudent macroeconomic management, sound monetary and fiscal policy frameworks, structural reforms, and flexible labor markets. They noted that the monetary policy...

This Selected Issues paper attempts to quantify the impact of the demographic shift on growth and public finances in Switzerland. It examines the intertemporal consistency between current policy plans and unfunded liabilities, focusing primarily on social security, and explores policy options....

This paper reviews Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Switzerland. The paper discusses that The Federal Banking Commission (CFB) is the oversight body for...

This paper presents a factual update of the Insurance Core Principles including insurance sector market and regulatory developments for Switzerland. Regulatory reforms since 2003 have updated Switzerland’s regulatory and supervisory regime for the insurance industry to bring it in line with...

This paper presents a factual update of the International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation for Switzerland. Overall, there has been substantial progress in implementing Financial Sector Assessment Program recommendations in various...