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The labor market remains weak, disinflation has slowed, but falling wages are improving competitiveness. The weak economic environment is putting pressure on the banking sector. Financial conditions have deteriorated recently because of international financial market tensions. The Bank of Latvia...
Persistent link: https://www.econbiz.de/10011245352
The Latvian authorities have strengthened their intervention capacity, financial supervision, and monitoring framework, and have taken steps to contain risks in Parex Bank. The staff report reviews the Republic of Latvia’s economic developments and policies. Substantial progress has been...
Persistent link: https://www.econbiz.de/10011242934
This paper discusses key findings of the Second Review and Financing Assurances Review Under the Stand-By Arrangement for Latvia. The sharp economic downturn is starting to bottom out, although recovery has not yet begun. The authorities have implemented the June 2009 supplementary budget, and...
Persistent link: https://www.econbiz.de/10011243235
Barbados’s 2008 Article IV Consultation is focused on policies to balance the conflicting risks to inflation, growth, and medium-term sustainability. Although the government has maintained some policy space by postponing the liberalization of the capital account, its options are...
Persistent link: https://www.econbiz.de/10011244437
This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of...
Persistent link: https://www.econbiz.de/10011244851
Nonperforming Loans (NPLs) in the banking system constituted 16.5 percent of total loans, owing primarily to the corporate sector. The Credit Bureau, maintained by the Association of Serbian Banks, also discloses dramatic increases in corporate and retail defaults over the past year. NPL...
Persistent link: https://www.econbiz.de/10012247156
This technical note assesses the vulnerabilities of household and corporate sector balance sheets and quantifies the … Spanish financial stability arising from household indebtedness. The analysis expands the use of microlevel data to assess … household vulnerabilities, distinguishing between indebted and nonindebted households as well as accounting for the allocation …
Persistent link: https://www.econbiz.de/10014395879
This report reviews the macroeconomic determinants of the rapid growth in the Spanish housing market, including various policy elements. It examines the vulnerabilities of households' finances as a result of the rapid growth of housing prices and mortgage debt. It also describes the Spanish...
Persistent link: https://www.econbiz.de/10014407049
This Technical Note assesses Corporate and Household Debt Restructuring in Serbia. As of June 2009, nonperforming loans …
Persistent link: https://www.econbiz.de/10014404516
The depth of the crisis and the weakness of the ensuing recovery led to new ways to implement monetary policy. At the onset of the crisis, central banks in several advanced economies quickly moved policy rates to zero and initiated large-scale asset purchases. In more recent years, with...
Persistent link: https://www.econbiz.de/10014408638