Czech Republic : Staff Report for the 2002 Article IV Consultation

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Czech Republic : Staff Report for the 2002 Article IV Consultation
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Volume/Issue:
2002/167
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
August 2002
DOI:
http://dx.doi.org/10.5089/9781451810059.002
ISBN:
9781451810059
ISSN:
1934-7685
Page:
54
This 2002 Article IV Consultations highlights that following a period of inaction on the structural front and a protracted recession, economic growth in the Czech Republic has picked up. Underlying this performance have been supportive macroeconomic policies, large foreign direct investment, and steady progress with structural reform. However, enterprise restructuring has led to rising structural unemployment and large regional disparities in unemployment rates. Sizable losses were accumulated by banks, which had to be transferred to the government to allow the banks to be sold to strategic investors, adding to medium-term fiscal pressures.
Article

Statement by Willy Kiekens, Executive Director and Jirí Jonas, Advisor to the Executive Director for the Czech Republic

Author(s):
International Monetary Fund
Published Date:
August 2002
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