Republic of San Marino: 2013 Article IV Consultation

May 17, 2013

Preview Citation

Format: Chicago

Republic of San Marino: 2013 Article IV Consultation, (USA: International Monetary Fund, 2013) accessed October 14, 2024

Summary

This Article IV Consultation focuses on San Marino’s prolonged recession. The global crisis has led to a significant decline in budget revenues. However, San Marino’s sizable pre-2008 budget surplus, combined with recent tax measures and efforts to restrain expenditures, have helped contain the deficit at about 3 percent of GDP. Executive Directors noted that San Marino’s economy will face financial and fiscal challenges in the near term, as well as uncertain medium-term prospects. Directors considered that, notwithstanding the recent recapitalization, the largest bank will need more capital to meet prudential requirements.

Subject: Expenditure, Financial institutions, International organization, Loans, Monetary policy, Nonperforming loans, Public debt, Revenue administration

Keywords: Bank recapitalization cost, Bank secrecy, Global, Loans, Money market rate, Nonperforming loans, Sammarinese authorities, Sta government finance statistics, VAT regime

Publication Details

Pages:

42
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2013/122
Stock No:

1SMREA2013001
ISBN:

9781484346921
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports