Crisis response to date. As the world economy has become engulfed in the worst crisis in many generations, the Fund has mobilized on many fronts to support its member countries. We have responded with prompt, large and flexible financial support where needed. Our monitoring, forecasts, and...

The Austrian economy has been growing at an annual rate in excess of 3percent since mid-1999. Experience with deregulation in the telecommunications and electricity sectors is encouraged. With strong economic growth and expansionary monetary conditions from an Austrian perspective, Executive...

This report is focused on the impact of the financial crisis on the Austrian economy and the financial sector, the authorities’ policy responses, and macrofinancial linkages and spillovers. The financial sector has been expanding rapidly, mostly outside Austria. This has brought substantial...

Payment systems are a core part of all financial systems. The quality of payment systems determines the stability of the overall economy, the efficiency and reliability of financial intermediation, and the possibility for the private sector to innovate and provide new services to consumers. This...

This paper presents findings of the Detailed Assessment of Italy’s Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems. At present, the Italian banking system is subject to significant challenges resulting from...

Hawala and other remittance systems have gained attention in recent years with the substantial growth of remittance flows from countries with large migrant labor forces and with increased focus on combating money laundering and the financing of terrorism. The IMF and the World Bank have been...