Switzerland: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland

June 2, 2003

Preview Citation

Format: Chicago

Switzerland: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland, (USA: International Monetary Fund, 2003) accessed November 21, 2024

Summary

This 2003 Article IV Consultation highlights that following a solid expansion in 1997–2000, economic growth in Switzerland is currently stalled as exports have been hurt by the global slowdown and domestic investment has undergone a sharp downward correction from earlier high levels. The important financial sector has been hit particularly hard, in part because of the steep declines in equity prices both in Switzerland and abroad. Unemployment has doubled, although it remains low by international standards. Inflation is negligible, and the external current account is running a large surplus.

Subject: Commodity markets, Deflation, Economic sectors, Exchange rates, Financial markets, Financial sector, Foreign exchange, Inflation, Prices

Keywords: Authority, Commodity markets, CR, Debt, Debt brake legislation, Debt brake rule, Deflation, Exchange rates, Federal deficit, Financial sector, Global, Inflation, ISCR, Monetary policy stance, Trend inflation

Publication Details

Pages:

37
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/148
Stock No:

1CHEEA0012003
ISBN:

9781451807202
ISSN:

1934-7685

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