Ireland
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Page : pages
File Size : 47,88 MB
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Ireland: 2021 Article IV Consultation-Press Release; and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 72 pages
File Size : 14,40 MB
Release : 2021-06-16
Category : Business & Economics
ISBN : 1513587234
Book Description
Ireland entered the COVID pandemic with reduced vulnerabilities and high growth, especially in multinational enterprises (MNEs)-dominated sectors. The pandemic has had a highly asymmetric impact on the economy. The domestic sectors contracted by about 10 percent in 2020 and unemployment reached 30 percent at the peak of the first wave, while MNEs continued to grow strongly, driving overall GDP growth to 3.4 percent. A swift policy response has been effective in mitigating the crisis impact and protecting households and firms. The domestic sectors are expected to partially recover in 2021, with GDP growth projected at 4.6 percent. Downside risks stem from uncertainties surrounding new COVID variants, post-Brexit trade arrangements, and likely changes in international taxation.
Ireland
Author : International Monetary
Publisher : International Monetary Fund
Page : 66 pages
File Size : 11,74 MB
Release : 2022-07-07
Category : Business & Economics
ISBN :
Book Description
Ireland’s economy has rebounded strongly from the pandemic. GDP surpassed its pre-pandemic trend in 2021:Q4—one of the few euro area countries to do so. COVID-support measures have been appropriately unwound, and the fiscal position improved significantly. The financial sector weathered the pandemic crisis well and remains resilient. While the outlook is strong, uncertainty is substantial due to the indirect impacts of the war in Ukraine. Several pre-pandemic challenges remain: housing shortages, infrastructure, social and green investment gaps, and the need to strengthen multinational enterprises’ inward linkages to broaden growth and make it more inclusive. There is also a need to address the Global Financial Crisis (GFC) legacy effects on the financial system and tackle the factors contributing to high lending interest rates.
Romania: 2021 Article IV Consultation-Press Release and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 74 pages
File Size : 17,62 MB
Release : 2021-08-27
Category : Business & Economics
ISBN : 1513594893
Book Description
Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.
Hungary: 2021 Article IV Consultation-Press Release; and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 54 pages
File Size : 26,12 MB
Release : 2021-06-29
Category : Business & Economics
ISBN : 151358443X
Book Description
Hungary’s economy entered the COVID-19 pandemic on a strong footing and the authorities responded swiftly and strongly to the crisis it triggered. While the lockdowns weighed heavily on activity, the fast vaccination pace is allowing an early relaxation of containment measures, and the economy has started to rebound.
Cyprus: 2021 Article IV Consultation-Press Release; and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 82 pages
File Size : 12,85 MB
Release : 2021-06-16
Category : Business & Economics
ISBN : 1513587641
Book Description
The COVID-19 pandemic has interrupted Cyprus’s strong economic growth over the past few years. High dependence on service sectors and strict containment measures led real output to contract by 5.1 percent (yoy) during 2020. Growth is projected to recover to 3 percent in 2021 as the vaccine rollout gathers pace despite the ongoing new wave of infections, but significant downside risks remain, reflecting the high uncertainty of the path of the epidemic.
Greece: 2021 Article IV Consultation-Press Release; and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 94 pages
File Size : 10,46 MB
Release : 2021-07-16
Category : Business & Economics
ISBN : 1513587838
Book Description
Greece entered the pandemic with an unfinished recovery, but the country has demonstrated resilience in facing COVID-19. The economy contracted by 8.2 percent in 2020, better than expected given Greece’s high dependence on tourism and pre-existing vulnerabilities. The government provided among the largest on-budget fiscal stimuli in the euro zone and supervisory and ECB accommodation shielded the banking sector and kept financing conditions highly accommodative. Despite the pandemic, reforms progressed in a number of areas, albeit at a slower pace than in recent years.
Samoa
Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 107 pages
File Size : 28,50 MB
Release : 2021-03-19
Category : Business & Economics
ISBN : 1513574426
Book Description
Samoa has shown resilience to past economic shocks, underpinned by the authorities’ strong commitment to support the economy and financial assistance provided by the international community. Samoa was among the first countries in the world to secure its border to protect its citizens from COVID-19. The authorities’ quick response to the measles outbreak and the global pandemic has identified the policy priorities well. The international community also responded swiftly, including the IMF disbursement under the Rapid Credit Facility (RCF) in April 2020 which helped unlock record budget support grants by the Asian Development Bank (ADB) and the World Bank (WB). The authorities strengthened the health care system and provided support to the private sector, with assistance targeted to vulnerable businesses and households to safeguard livelihoods.
Cambodia: 2021 Article IV Consultation-Press Release; and Staff Report
Author : International Monetary
Publisher : International Monetary Fund
Page : 89 pages
File Size : 16,87 MB
Release : 2021-12-09
Category : Business & Economics
ISBN : 1616355948
Book Description
The rapid spread of the virus in Cambodia during 2021 has set the economy back again, after external demand collapsed in 2020. The authorities responded to the crisis with measures to support households and firms, including increased healthcare spending; a new system of cash transfers to vulnerable households; loans and guarantees; tax breaks; and wage subsidies and retraining. Despite these measures, growth is estimated to have contracted by -3.1 percent in 2020. Growth in 2021 is expected to be 2.2 percent, slowly recovering to pre-crisis rates of around 61⁄2 percent.
Global Waves of Debt
Author : M. Ayhan Kose
Publisher : World Bank Publications
Page : 403 pages
File Size : 11,29 MB
Release : 2021-03-03
Category : Business & Economics
ISBN : 1464815453
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
