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decline. Households have rapidly accumulated debt during boom times, and incomes and asset values have declined severely …
Persistent link: https://www.econbiz.de/10011244469
lowest historical rate in 2012, as households cut back savings to support consumption in response to negative income shocks …. Household savings fell across all households, but the declines were likely more material among lower income and highly indebted … ahead, households may need to restrain consumption further to free resources for repaying debt. Household savings rates will …
Persistent link: https://www.econbiz.de/10011244773
This 2008 Article IV Consultation highlights that Montenegro has made significant progress in overhauling its economy. The authorities have taken several welcomed steps to help strengthen financial sector stability. Executive Directors have welcomed the structural reforms implemented over the...
Persistent link: https://www.econbiz.de/10011244435
The Australian banking system, which holds approximately half of total financial systems assets, and is dominated by four major banks, is sound with high earnings, high asset growth, and low levels of problem assets. Stress tests did not reveal near-term stability concerns, suggesting the...
Persistent link: https://www.econbiz.de/10011244941
This staff report discusses Israel’s 2009 Article IV Consultation on economic developments and policies. The economy has been shielded from the global downturn by the absence of prior housing or bank credit booms, high household savings rates, and the fact that investment goods and...
Persistent link: https://www.econbiz.de/10011245067
Owing to the high dependence of its exports on countries and commodities, Finland experienced the worst recession in the euro area. Executive Directors encouraged authorities to focus on improving bank cost efficiency, preventing excessive risk taking, and limiting liquidity and funding risks....
Persistent link: https://www.econbiz.de/10011245222
After being hit by a severe recession in 2008–09, the Belgian economy is gradually recovering. When core inflation remained subdued in 2010, headline inflation jumped up due to the energy price hike. The growth of potential output is expected to revert to its declining trend over the...
Persistent link: https://www.econbiz.de/10011245512
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.
Persistent link: https://www.econbiz.de/10011245720
This paper presents key findings of the Financial System Stability Assessment for New Zealand, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation. The assessment reveals that New Zealand has a...
Persistent link: https://www.econbiz.de/10005252766
This paper presents key findings of the Financial System Stability Assessment for Barbados, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and...
Persistent link: https://www.econbiz.de/10005824907