The U.K. financial sector is globally systemic, open, and complex. It has weathered the COVID-19 pandemic fittingly, thanks to the post-GFC reforms, a proactive macroprudential stance, and an effective multipronged response to maintain financial stability. Brexit uncertainties are being handled...

The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed...

This report summarizes key findings and recommendations of two off-site visits made by Mr. Benoit Wiest, Public Financial Management Advisor at METAC, and Ms. Katja Funke, Expert, between December 2020 and April 2021. The mission worked with the Public-Private Partnerships (PPPs) unit to develop...