An update on Saudi Arabia’s Financial System Stability Assessment (FSAP) is presented. Saudi Arabia has confronted the global financial crisis from a position of strength, and took decisive steps to manage the impact of the crisis. As a result, the financial system has weathered the...

Ireland has made progress in overcoming the economic crisis. The new coalition government’s strategy for restoring sustained growth, sound public finances, and job creation has been put forward in the context of the European Union/IMF-supported program. On this basis, the government...

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...

This paper discusses key findings of the Financial System Stability Assessment on the Basel Core Principles for Effective Banking Supervision, the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems, and IMF Monetary and Financial Policy...

This Financial Sector Stability Assessment report reviews economic development and different fiscal policies in Austria. The global crisis has revealed weaknesses in Austria’s financial stability policy framework, and recent changes at the European levels provide an opportunity to address...

Lebanon is facing a difficult global, regional, and domestic environment simultaneously for the first time in more than a decade. Domestic policies should aim at instilling confidence and tackling key policy challenges, such as preserving macroeconomic stability and paving the way for a more...

The Lebanese financial system has so far weathered the global financial crisis. The 2009 Article IV Consultation highlights that deposit inflows decelerated briefly in the aftermath of the Lehman Brothers bankruptcy, but have resumed at a rapid pace since then. Executive Directors have welcomed...

This report discusses Iceland’s Second Review under the Stand-By Arrangement and Request for Extension of the Arrangement. Supportive fiscal policies have helped consumption hold up better than expected, while the external sector has benefited from currency depreciation and higher...

A detailed assessment report on the observance of China’s compliance of Basel Core Principles for effective banking supervision is presented. Regulation and supervision of China’s banking system has made impressive progress in the past few years, led by an activist, forward-looking...