Narrow Your Choices

Refine By Countries

Refine By Topic

Refine By Series

Refine By Language

  • English (3)

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Browse

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Fiscal sector x
  • Medicine and Nursing x
  • Cross-cutting issues x
  • International Economics x
  • Health, Education, and Welfare x
  • Communicable diseases x
  • Monetary economics x
  • International Economics x
  • Refine By Language: English x
Clear All Modify Search
Cover IMF Staff Country Reports
Euro Area Policies: 2021 Article IV Consultation with Member Countries on Common Euro Area Policies-Press Release; Staff Report; and Statement by the Executive Director for Member Countries
International Monetary Fund. European Dept.
Following a deep recession in 2020 and further contraction in 2021Q1, the euro area economy recovered rapidly in the second and third quarters thanks to high vaccination levels, increasing household and business adaptability to the virus, and continued forceful policy support. Looking ahead, while supply chain disruptions, elevated energy prices, and resurgences of Covid-19 cases—including those related to the Omicron variant—are likely to pose near-term headwinds to growth, the recovery is set to continue in 2022 as the impact of the pandemic on economic activity continues to weaken over time and supply-side constraints ease. Medium-term output losses relative to pre-crisis trends will vary significantly across countries and sectors as will the extent of labor market scarring. Price pressures are building up as production bottlenecks are set to persist for a while. However, inflation—despite increasing significantly in recent months due to transitory factors—is projected to moderate during 2022 and remain below the ECB’s inflation target over the medium term. Uncertainty surrounding the outlook remains high and largely related to pandemic dynamics and legacies, including induced behavioral and preference changes.
Keywords:
EU policy; aggregate REER gap; CA surplus; Euro area GDP growth; area policy rule; Euro Area economy; Inflation; COVID-19; Labor markets; Fiscal stance; Greenhouse gas emissions; Global; Europe
Cover IMF Research Perspectives
IMF Research Perspectives: Spring/Summer 2021
International Monetary Fund. Research Dept.
IMF Research Perspectives: Spring/Summer 2021
Keywords:
IMF research perspective; government spending multiplier; R&D effort; IMF CSF; central bank financing; COVID-19; Bank credit; Fiscal stance; Global; Sub-Saharan Africa; Europe; Africa
Cover IMF Staff Country Reports
Italy: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy
International Monetary Fund. European Dept.
The pandemic dealt a severe blow to the Italian people and their economy. GDP fell by nearly 9 percent in 2020, with much larger drops for contact-intensive services. Public and corporate debt increased strongly and preexisting vulnerabilities have likely worsened. The government is prioritizing resolving the health emergency and transforming the economy to lift productivity, improve social outcomes and strengthen resilience to future shocks and structural change. The large National Recovery and Resilience Plan—partly financed by sizable Next Generation EU resources—will be used to increase physical and social infrastructure. Outlook. GDP is expected to recover strongly in 2021–22 and to grow well-above trend over the medium term, supported by investment spending. Nonetheless, economic scarring could be sizable. The two-sided risks relate to how the pandemic progresses, the efficiency of investment spending and the extent of savings drawdown, with large costs associated with the downside.
Keywords:
balance sheet repair; government support; liability positions vis-à-vis nonresident; money market rate; banks' capitalization; COVID-19; Loans; Income; Fiscal stance; Global; Europe