Abstract
2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria
FUND RELATIONS
(As of July 5, 2018)
Mission: Consultation discussions were held in Vienna from June 14–25, 2018. The authorities released the mission’s concluding statement, which is available at:
Staff team: Messrs. Dorsey (head), Pitt, and Ms. Karpowicz (all EUR), and Hukka (FIN). Mr. Just (OED) participated in the discussions.
Country interlocutors: Minister of Finance Loeger, OeNB Governor Nowotny and other senior officials, parliamentarians, and representatives of the social partners, the banking sector, and think tanks.
Fund relations: Austria is on a 12-month consultation cycle. The last consultations were held from December 2–13, 2016 and the staff report is available at: http://www.imf.org/en/Publications/CR/Issues/2017/02/02/Austria-2016-Article-IV-Consultation-Press-Release-and-Staff-Report-for-Austria-44608
Membership Status: Joined: August 27, 1948; Article VIII, as of August 1, 1962
| General Resources Account: | SDR Million | Percent Quota |
|---|---|---|
| Quota | 3,932.00 | 100.00 |
| Fund holdings of currency | 3,608.24 | 91.77 |
| Reserve position in Fund | 323.79 | 8.23 |
| Lending to the Fund: | ||
| New Arrangements to Borrow | 192.77 |
| General Resources Account: | SDR Million | Percent Quota |
|---|---|---|
| Quota | 3,932.00 | 100.00 |
| Fund holdings of currency | 3,608.24 | 91.77 |
| Reserve position in Fund | 323.79 | 8.23 |
| Lending to the Fund: | ||
| New Arrangements to Borrow | 192.77 |
| SDR Department: | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 1,736.31 | 100.00 |
| Holdings | 1,626.71 | 93.69 |
| SDR Department: | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 1,736.31 | 100.00 |
| Holdings | 1,626.71 | 93.69 |
Outstanding Purchases and Loans: None
Latest Financial Arrangements: None
Projected Payments to Fund:
(SDR Million; based on existing use of resources and present holdings of SDRs):
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | |
| Principal | --- | --- | --- | --- | --- |
| Charges/Interest | 0.31 | 0.52 | 1.06 | 1.06 | 1.06 |
| Total | 0.31 | 0.52 | 1.06 | 1.06 | 1.06 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | |
| Principal | --- | --- | --- | --- | --- |
| Charges/Interest | 0.31 | 0.52 | 1.06 | 1.06 | 1.06 |
| Total | 0.31 | 0.52 | 1.06 | 1.06 | 1.06 |
Implementation of HIPC Initiative: Not Applicable
Exchange System:
As of January 1, 1999, the currency of Austria is the euro, which floats freely and independently against other currencies. Austria’s exchange system is free of restrictions on the making of payments and transfers for current international transactions, with the exception of restrictions notified to the Fund in accordance with decision No.144-(52/51) resulting from UN Security Council Resolutions and EU Council Regulations.
Statistical Issues
1. Macroeconomic statistics are adequate for surveillance. Austria subscribed to the Fund’s Special Data Dissemination Standard (SDDS) in 1996, and its metadata are available on the Fund’s electronic Dissemination Standards Bulletin Board. Austria is availing itself of the SDDS flexibility option on the timeliness of the industrial production index and the merchandise trade data. Austria is currently preparing for SDDS Plus adherence.
2. The ECB reporting framework is used for monetary statistics and data are reported to the IMF through a “gateway” arrangement with the ECB. The arrangement provides an efficient transmission of monetary statistics to the IMF and for publication in the IFS and IFS Supplement.
Austria: Table of Common Indicators
(as of July 5, 2018)
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra-budgetary funds, and social security funds) and state and local governments).
Including currency and maturity composition.
Austria: Table of Common Indicators
(as of July 5, 2018)
| Date of latest observation | Date received | Frequency of data | Frequency of reporting | Frequency of publication | |
|---|---|---|---|---|---|
| Exchange rates | 7/5/18 | 7/5/18 | Daily | Daily | Daily |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Reserve/Base Money | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Broad Money | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Central Bank Balance Sheet | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Consolidated Balance Sheet of the Banking System | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Interest Rates2 | 7/5/18 | 7/5/18 | Daily | Daily | Daily |
| Consumer Price Index | May 2018 | 5/18/18 | Monthly | Monthly | Monthly |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 2017 | 3/27/18 | Quarterly | Quarterly | Quarterly |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 2017 | 6/15/18 | Quarterly | Quarterly | Quarterly |
| Stocks of Central Government and Central Government-Guaranteed Debt | 2017 | 6/15/18 | Quarterly | Quarterly | Quarterly |
| External Current Account Balance | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| Exports and Imports of Goods and Services | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| GDP/GNP | 2018:Q1 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| Gross External Debt5 | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| International Investment Position | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra-budgetary funds, and social security funds) and state and local governments).
Including currency and maturity composition.
Austria: Table of Common Indicators
(as of July 5, 2018)
| Date of latest observation | Date received | Frequency of data | Frequency of reporting | Frequency of publication | |
|---|---|---|---|---|---|
| Exchange rates | 7/5/18 | 7/5/18 | Daily | Daily | Daily |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Reserve/Base Money | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Broad Money | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Central Bank Balance Sheet | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Consolidated Balance Sheet of the Banking System | May 2018 | 6/6/18 | Monthly | Monthly | Monthly |
| Interest Rates2 | 7/5/18 | 7/5/18 | Daily | Daily | Daily |
| Consumer Price Index | May 2018 | 5/18/18 | Monthly | Monthly | Monthly |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 2017 | 3/27/18 | Quarterly | Quarterly | Quarterly |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 2017 | 6/15/18 | Quarterly | Quarterly | Quarterly |
| Stocks of Central Government and Central Government-Guaranteed Debt | 2017 | 6/15/18 | Quarterly | Quarterly | Quarterly |
| External Current Account Balance | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| Exports and Imports of Goods and Services | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| GDP/GNP | 2018:Q1 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| Gross External Debt5 | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
| International Investment Position | 2017 | 3/30/18 | Quarterly | Quarterly | Quarterly |
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra-budgetary funds, and social security funds) and state and local governments).
Including currency and maturity composition.