This 2009 Article IV Consultation highlights that following a prolonged expansion, reflecting sound macroeconomic policies and favorable terms of trade, global events have slowed Australia’s economic growth well below trend. The turmoil sparked by the collapse of Lehman Brothers in...

This Technical Note focuses on banking sector structure in Germany. Germany’s banking system comprises three “pillarsâ€â€”private commercial banks, public sector banks, and cooperative banks—distinguished by the ownership structure and business orientation. The German...

This Selected Issues paper and Statistical Appendix for the Kingdom of Swaziland assesses the interaction of nonbank financial institutions (NBFIs) within the financial system and the real economy. Understanding the type of flows will help in designing policies to better manage capital flows and...

Germany’s economic growth and recovery from the global crisis are explained in this study. Tax, education, and innovation policies are specific measures supported by the authorities. External and financial shocks received by Germany and other outward spillovers are outlined. Germany has a...

This Technical Note reviews the International Organization of Securities Commissions’s (IOSCO) Objectives and Principles of Securities Regulation for Monaco. It reveals that overall, there has been progress in implementing the Offshore Financial Center assessment recommendations in most areas...