Republic of San Marino: Staff Report for the 2012 Article IV Consultation

May 8, 2012

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Republic of San Marino: Staff Report for the 2012 Article IV Consultation, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

This 2012 Article IV Consultation highlights that rising unemployment, stagnant wage growth, and lower confidence have all contributed to falling private consumption and low inflation in San Marino. Financial sector balance sheets have continued to compress on the back of steady outflows of deposits. Directors have welcomed the measures taken to contain the 2012 budget deficit but called for a comprehensive medium-term consolidation plan, given growing fiscal risks. Directors have also stressed the need for a deficit-financing plan, which could involve issuing debt instruments on capital markets.

Subject: Banking, Commercial banks, Economic sectors, Financial institutions, Financial sector, Financial statements, Loans, National accounts, Public financial management (PFM), Revenue administration

Keywords: Attendant recapitalization, Bank, CR, Economy, Financial sector, Financial statements, GDP contraction, Global, ISCR, Loans, Private sector, Recession, Sammarinese authorities, Sammarinese economy, Sammarinese labor market rigidity, Staff project, Statistics

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/108
Stock No:

1SMREA2012001
ISBN:

9781475503418
ISSN:

1934-7685

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