This paper presents an update to the Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency Module for Italy. Some progress has been made vis-à-vis the 2003 ROSC update, especially toward strengthening the integrity of data. The reconciliation of above- and below-the-line...

During the 2003 Article IV Consultation mission, IMF staff reviewed developments in Italy's observance of fiscal transparency practices, with a view to updating changes in current practices, reviewing progress in implementing the initial report on observance and codes (ROSCs) recommendations,...

This Report on the Observance of Standards and Codes (ROSC) data module provides a review of Italy’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by an in-depth assessment of the quality of national accounts, consumer price index,...

This paper reviews findings of the Detailed Assessment of Italy’s Compliance with the Basel Core Principles for Effective Banking Supervision. The Italian banking system seems to exhibit a high degree of resilience to possible macroeconomic shocks, as supported by the evolution of some...

This paper presents findings of the Detailed Assessment of Italy’s Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems. At present, the Italian banking system is subject to significant challenges resulting from...

The Selected Issues paper is focused on policies to secure strong growth and safeguard fiscal sustainability. The paper analyzes the reasons behind Italy's persistent inflation differential vis-a-vis the euro area. It reviews Italy's large regional imbalances through a catch-up in income levels...

Economic activity stagnated in the first half of 2003, but recent indicators point to a gradual recovery. On product markets, there was agreement that progress had been secured over recent years, but also that Italy continued to suffer from insufficient competition in a number of protected...

This report assesses the Observance of Standards and Codes on Fiscal Transparency for Italy. The report finds that significant progress has been made in budget management, especially in recent years, and that Italy meets the standards of the code in many respects. In particular, roles of various...

Italy has made impressive strides in achieving deep-rooted macroeconomic stability. But growth has disappointed over the past decade. The government has laid out a bold agenda to reinvigorate growth. Specifics of an expenditure and tax reform agenda should be laid out early. A key to achieving...

This paper discusses a Detailed Assessment of the Observance of Monte Titoli (MT) for Securities Settlement Systems for Italy. The paper discusses that the rules and regulations governing the operations and activities of MT are public and accessible to participants. The Italian laws and...