ebooks and download videos Search All  Title  Author 
Home / Nonfiction / Business & Economics / Banks & Banking

Republic of San Marino: 2014 Article IV Consultation-Staff Report Press Release And Statement by the Executive Director for the

| £7.50 | €8.43 | Ca$12.17 | Au$12.01
by International Monetary Fund Euro Dept
What is this?DRM-EPUB | by download   add to wish list
Republic of San Marino: 2014 Article IV Consultation-Staff Report Press Release And Statement by the Executive Director for the by International Monetary Fund Euro Dept

KEY ISSUES Context: The global crisis and tense relations with Italy triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino’s off-shore banking model. The banking system has undergone deep restructuring, with several banks intervened and the largest bank requiring large injections of public capital. The economic downturn and bank recapitalization needs have put significant pressure on public finances. Nevertheless, the very recent exit from the Italy’s tax black list should facilitate the recovery and the transition to a new growth model. Challenges: Lay foundations for sustainable growth by advancing the cleanup of the banking system, realign fiscal policy with new economic realities, and integrate into international markets. Key policy recommendations: ? Financial sector policy. Complete recapitalization of the largest bank, diluting shareholders unconditionally and taking control of the board and management. For all banks, step up on-site supervisions to ensure adequate provisioning, and undertake an external asset-quality review coupled with appropriate contingency plans if capital needs are identified. ? Fiscal policy. Further consolidation of 3 percent of GDP is needed over the medium term to put public debt on a sustainable path and rebuild buffers. ? Structural policy. Stay committed to openness and transparency to fully normalize relations with the international community; improve nonprice competitiveness to facilitate the reallocation of resources to the nonbanking sector. Traction of past Fund advice: The authorities have recognized plausible losses in the largest bank in line with Fund advice, but the modalities of public recapitalization remain problematic. The 2014 budget delivers significant savings, consistent with past Fund advice.

To view this DRM protected ebook on your desktop or laptop you will need to have Adobe Digital Editions installed. It is a free software. We also strongly recommend that you sign up for an AdobeID at the Adobe website. For more details please see FAQ 1&2. To view this ebook on an iPhone, iPad or Android mobile device you will need the Adobe Digital Editions app, or BlueFire Reader or Txtr app. These are free, too. For more details see this article.

SHARE  Share by Email  Share on Facebook  Share on Twitter  Share on Linked In  Share on Delicious
or call in the US toll free 1-888-866-9150 product ID: 637582

Ebook Details
Pages: 38
Size: 2.7 MB
Date published:   2014
ISBN: 9781484358825 (DRM-EPUB)

DRM Settings
Copying:of 20 selections every 20 days allowed
Printing:of 20 pages every 20 days allowed
Read Aloud:  not allowed

This product is listed in the following category:

Nonfiction > Business & Economics > Banks & Banking

This author has products in the following categories:

Nonfiction > Business & Economics
Nonfiction > Business & Economics > International > Economics
Nonfiction > Business & Economics > Money & Monetary Policy
Nonfiction > Business & Economics > Banks & Banking
Nonfiction > Political Science > Public Policy > Economic Policy
Nonfiction > Business & Economics > Labor
Nonfiction > Business & Economics > Inflation
Nonfiction > Business & Economics > Finance
Nonfiction > Business & Economics > Insurance > Risk Assessment & Management
Nonfiction > Law
Nonfiction > Business & Economics > Exports & Imports

If you find anything wrong with this product listing, perhaps the description is wrong, the author is incorrect, or it is listed in the wrong category, then please contact us. We will promptly address your feedback.

© 2016