Singapore: Staff Report for the 2011 Article IV Consultation
IMF Staff Country Reports, February 10, 2012
Source details
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- Singapore: Staff Report for the 2011 Article IV Consultation
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Bibliographic details
- Published: February 10, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463935795.002
Economic outlook and near-term assessment
- Singapore’s economy is slowing against the backdrop of a deteriorating external environment and a softening of exports.
- The main near-term risks are:
- a protracted slowdown in advanced economies, and
- a sharp increase in global financial stress.
- Given Singapore’s openness, these shocks would hit the economy severely through:
- weaker exports,
- reduced capital inflows,
- slower credit, and
- a fall in financial market activity.
Financial sector vulnerabilities
- A rapid increase in foreign currency lending may raise the risk of funding strains.
- The report identifies banking, credit, financial institutions, housing, housing prices, inflation, loans, money, national accounts, and prices as relevant subject areas.
Policy stance and capacity
- The authorities have sufficient policy space to deploy a decisive response in case the near-term risks materialize.
Keywords and thematic focus
- Asia and Pacific; core inflation; CR; Credit; Global; growth outlook; headline inflation; Housing; Housing prices; Inflation; ISCR; IT market; Loans; mas core inflation; medium-term challenge; Singapore; Singapore economy.
Content in this bundle
- Singapore: 2011 Article IV Consulation; IMF Country Report 12/42; January 24, 2012