Title page
CZECH REPUBLIC
STAFF REPORT FOR THE 2024 ARTICLE IV CONSULTATION—INFORMATIONAL ANNEX
January 7, 2025
Prepared By
European Department
Contents
FUND RELATIONS
Fund Relations
(As of November 30, 2024)
Membership Status: Joined 01/01/1993; Article VIII.
General Resources Account
SDR Million |
Percent Quota |
|
|---|---|---|
Quota |
2,180.20 |
100.00 |
Fund Holdings of Currency |
1,616.67 |
74.15 |
Reserve Position |
563.54 |
25.85 |
SDR Million |
Percent Quota |
|
|---|---|---|
Quota |
2,180.20 |
100.00 |
Fund Holdings of Currency |
1,616.67 |
74.15 |
Reserve Position |
563.54 |
25.85 |
SDR Department
SDR Million |
Percent Allocation | |
|---|---|---|
|
Net cumulative allocation |
2,869.82 |
100.00 |
|
Holdings |
2,566.23 |
89.42 |
SDR Million |
Percent Allocation | |
|---|---|---|
|
Net cumulative allocation |
2,869.82 |
100.00 |
|
Holdings |
2,566.23 |
89.42 |
Outstanding Purchases and Loans: None.
Latest Financial Arrangements
|
Type Approval Date |
Amount Amount Drawn (SDR Expiration Date Approved (SDR Million) Million) |
|---|---|
|
Stand-By March 17, 1993 |
March 16, 1994 177.00 70.00 |
|
Type Approval Date |
Amount Amount Drawn (SDR Expiration Date Approved (SDR Million) Million) |
|---|---|
|
Stand-By March 17, 1993 |
March 16, 1994 177.00 70.00 |
Projected Payments to the Fund
Forthcoming (SDR Million) | |||||
|---|---|---|---|---|---|
2024 |
2025 |
2026 |
2027 |
2028 | |
Principal | |||||
|
Charges/Interest |
10.24 10.23 10.23 10.24 | ||||
|
Total |
10.24 10.23 10.23 10.24 | ||||
Forthcoming (SDR Million) | |||||
|---|---|---|---|---|---|
2024 |
2025 |
2026 |
2027 |
2028 | |
Principal | |||||
|
Charges/Interest |
10.24 10.23 10.23 10.24 | ||||
|
Total |
10.24 10.23 10.23 10.24 | ||||
Implementation of HIPC Initiative: Not applicable.
Implementation of Multilateral Debt Relief Initiative (MDRI): Not applicable.
Implementation of Catastrophe Containment and Relief (CCR): Not applicable.
Exchange Rate Arrangement: The currency of the Czech Republic is the Czech koruna, created on February 8, 1993, upon the dissolution of the currency union with the Slovak Republic, which had used the Czechoslovak koruna as its currency. The de jure exchange rate arrangement is free floating and the de facto exchange rate arrangement is floating. The external value of the koruna is solely determined by supply and demand in the interbank foreign exchange market, in which the Czech National Bank (CNB) might participate.
The Czech Republic has accepted the obligations of Article VIII, Section 2(a), 3, and 4 of the IMF’s Articles of Agreement, and maintains an exchange system that is free of multiple currency practices and restrictions on the making of payments and transfers for current international transactions. The Czech Republic maintains exchange restrictions for security reasons, based on UN Security Council Resolutions and Council of the European Union Regulations that have been notified to the Fund for approval under the procedures set forth in Executive Board Decision No. 144–(52/51).
Last Article IV Consultation: Concluded on January 22, 2024 (IMF Country Report No. 24/28).
FSAP Participation
An FSAP was carried out in late 2000/ early 2001. The Financial System Stability Assessment was considered by the Executive Board on July 16, 2001, concurrently with the staff report for the 2001 Article IV Consultation. An FSAP update was carried out in 2011. ROSCs on: banking supervision; data dissemination; fiscal transparency; securities market; and transparency of monetary and financial policies were published on the Fund’s external website on July 1, 2000.
Technical Assistance (last mission)
Department |
Timing |
Purpose |
|---|---|---|
FAD |
June/July 1999 |
Medium-term fiscal framework |
MCM |
February/June 1999 |
Integrated financial sector supervision (with WB) |
RES |
June/August 2000 |
Inflation targeting (financed by MFD) |
STA |
November 2006 |
GFSM 2001 implementation |
FAD |
December 2024 |
Tax Administration Diagnostic Assessment |
Department |
Timing |
Purpose |
|---|---|---|
FAD |
June/July 1999 |
Medium-term fiscal framework |
MCM |
February/June 1999 |
Integrated financial sector supervision (with WB) |
RES |
June/August 2000 |
Inflation targeting (financed by MFD) |
STA |
November 2006 |
GFSM 2001 implementation |
FAD |
December 2024 |
Tax Administration Diagnostic Assessment |