Denmark: 2008 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Denmark

December 29, 2008

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Format: Chicago

Denmark: 2008 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Denmark, (USA: International Monetary Fund, 2008) accessed November 22, 2024

Summary

The key findings of Denmark’s 2008 Article IV Consultation are examined. The global liquidity crisis put the financial sector under severe stress, but most banks have weathered the crisis well owing to strong initial positions and supportive policies. The crisis accelerated a downturn that had begun in 2007 and tilted the balance of macroeconomic risk toward recession. The macroeconomic policy mix is appropriate, including higher interest rates to support the exchange rate peg and an expansionary budget to add a countercyclical thrust to the strong stabilizing effect of Denmark’s automatic stabilizers.

Subject: Fiscal policy, Fiscal stance, Income, Labor, Labor markets, National accounts, Wages

Keywords: Baseline scenario, CR, Fiscal stance, Global, Growth, Growth prospect, IMF staff estimate, Income, ISCR, Labor markets, Maturing mortgage bond, Staff appraisal, Wages

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/379
Stock No:

1DNKEA2008001
ISBN:

9781451811230
ISSN:

1934-7685

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