Cover IMF Staff Country Reports
Luxembourg: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Luxembourg
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 178
Language:
English
Publication Date:
04 Jun 2009
DOI:
https://doi.org/10.5089/9781451824384.002
ISBN:
9781451824384
ISSN:
1934-7685
Pages:
44
Keywords:
ISCR; CR; bank; government; Luxemburg; Luxembourg economy; liability positions vis-à-vis nonresident; money market rate; Luxembourg's currency; central bank of Luxembourg; Financial sector; Commercial banks; Liquidity; Income; Global; Europe
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The adverse impact of the crisis on Luxembourg’s growth outlook is partly mitigated by the authorities’ well-conceived fiscal policy response. The staff report for Luxembourg’s 2009 Article IV Consultation highlights economic developments and policies. It combines substantial fiscal stimulus, including subsidies aimed at stabilizing employment, with the full functioning of the automatic stabilizers. All major expenditure components of GDP are likely to be adversely affected by the financial crisis, waning confidence, and euro area recession.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2009: Issue 178