Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey write by International Monetary. This book was released on 2021-06-11. Turkey: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey available in PDF, EPUB and Kindle. In Turkey, as in other countries, the human and economic toll of the COVID-19 pandemic has been severe. Thousands of lives have been tragically lost and many livelihoods compromised. The initial policy response to the pandemic—and subsequent sharp growth rebound—set Turkey apart from its peers. Rapid monetary and credit expansion and large liquidity support meant that Turkey was among the few countries to experience positive economic growth in 2020. But these policies also aggravated pre-existing economic and financial vulnerabilities. Higher inflation, increased dollarization, and a large shift in the current account position increased pressure on the lira and gave rise to heavy foreign exchange sales, which led in turn to steep reserve declines from already-low levels. A policy shift in late 2020—mainly towards tighter and more transparent monetary policy and slower credit growth—was both welcome and necessary. But the durability and depth of the shift were called into question in March 2021, following the change in central bank leadership, as the lira weakened markedly and interest rate spreads widened.
India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India
India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India write by International Monetary. This book was released on 2021-10-15. India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India available in PDF, EPUB and Kindle. The ongoing COVID-19 pandemic has created a prolonged health crisis. Economic activity was slowing prior to the pandemic. Two COVID-19 waves have resulted in a deep and broad-based economic downturn with the potential for a longer lasting impact. The authorities have responded with fiscal policy, including scaled-up support to vulnerable groups, monetary policy easing and liquidity provision, and accommodative financial sector and regulatory policies. Despite the pandemic, the authorities have continued to implement structural reforms.
Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand write by International Monetary. This book was released on 2021-06-03. Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand available in PDF, EPUB and Kindle. A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany
Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany write by International Monetary. This book was released on 2021-07-15. Germany: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany available in PDF, EPUB and Kindle. Germany’s economy contracted by just under 5 percent in 2020, outperforming most European peers. But renewed waves of infections and associated lockdowns caused economic activity to plunge again in the first quarter of this year. While the pace of mass vaccination has picked up and the economy has started to reopen, the recovery path is beset with risks, particularly with respect to the progress of the pandemic and supply shortages in major industries. The authorities have maintained appropriately accommodative fiscal and financial policies, and most measures supporting households and firms have been extended through 2021.
South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa
South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa write by International Monetary. This book was released on 2022-02-11. South Africa: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa available in PDF, EPUB and Kindle. South Africa’s subpar economic performance over the last decade has weakened its macroeconomic fundamentals and social indicators. In response to formidable COVID-19-related challenges, government expenditure surged, and, amid declining revenue, the budget deficit widened significantly. The South African Reserve Bank (SARB) and the Prudential Authority (PA) preserved adequate liquidity conditions and financial-sector stability. The cyclical recovery from the deep contraction has been faster than expected but its strength is unlikely to be sustained. Benign global market conditions have supported asset performance, although term premia are elevated due to fiscal risks. Bank soundness indicators remain solid, but a deepening bank-sovereign nexus raises some concerns.
