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From the 2002 Financial Sector Assessment Program (FSAP), a number of structural reforms have been carried out in the financial system. A number of measures have been taken in the regulatory, fiscal, and legal areas to improve credit quality and financial transparency. The stress test confirms...
Persistent link: https://www.econbiz.de/10011244664
Switzerland was hard hit by the global crisis; however, the 1.5 percent contraction in 2009 compares favorably with most industrial countries. This 2010 Article IV Consultation highlights that after a year-long decline in real GDP, the economy exited the recession in mid-2009. In response to the...
Persistent link: https://www.econbiz.de/10011244693
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
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/10011243315
This paper presents key findings of the Financial System Stability Assessment of the Republic of Estonia. The Estonian financial sector is highly concentrated and foreign owned. Financial indicators suggest a sound banking sector, and show particular strength in asset quality and earnings. The...
Persistent link: https://www.econbiz.de/10011244568
This paper presents a technical note on Crisis Management Arrangements for the United States. The crisis has seen widespread systemic instability, large-scale fiscal support, and an increase in moral hazard. The lack of a formal systematic process for the assessment of risks may have contributed...
Persistent link: https://www.econbiz.de/10011245009
indices of housing prices started falling, mortgage defaults rose sharply, and bank losses mounted. Policymakers have …
Persistent link: https://www.econbiz.de/10011245049
This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain. Substantial progress has been made in reforming the former...
Persistent link: https://www.econbiz.de/10011242492
This Selected Issues paper reviews the financial sector development in Georgia in recent years, and investigates why it has lagged behind economic development, as well as developments in more advanced transition economies. The paper briefly reviews recent financial sector development in Georgia,...
Persistent link: https://www.econbiz.de/10011242800
This paper presents Barbados’s Financial System Stability Assessment Update as part of the Financial Sector Assessment Program Update. The domestic banking sector appears sound and profitable and continues to dominate the financial system. The financial system has benefited from the...
Persistent link: https://www.econbiz.de/10011243853