Malta
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Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 71 |
Release | : 2021-09-17 |
Genre | : Business & Economics |
ISBN | : 1513596985 |
The fallout from the COVID-19 crisis has hit the Maltese economy hard, particularly its large tourism sector. Using fiscal buffers accumulated prior to the pandemic, the authorities have taken swift actions to support households, businesses, and the healthcare system. With the rapid rollout of COVID-19 vaccine, the economy has reopened for the summer tourism season. While the outlook is surrounded by a high degree of uncertainty, the Maltese economy is expected to rebound by 53⁄4 percent this year, up from -73⁄4 percent in 2020. The financial system has remained stable. In late June 2021, the Financial Action Task Force (FATF) put Malta under increased monitoring due to concerns about effectiveness of its anti-money laundering and combatting the financing of terrorism (AML/CFT) framework.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 84 |
Release | : 2021-09-21 |
Genre | : Business & Economics |
ISBN | : 1513597752 |
High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 91 |
Release | : 2021-07-23 |
Genre | : Business & Economics |
ISBN | : 1513590065 |
Ghana has been hit hard by the pandemic. The government’s proactive response helped contain the spread of COVID-19, protecting lives and limiting the impact on economic activity. However, partly because of the pandemic, the fiscal position worsened considerably last year, with a sharp increase in public sector debt.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 111 |
Release | : 2021-07-06 |
Genre | : Business & Economics |
ISBN | : 151358779X |
While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 69 |
Release | : 2021-06-28 |
Genre | : Business & Economics |
ISBN | : 1513588583 |
Economic Impact of the Pandemic and Policy Responses. Mauritius has been successful in containing the COVID-19 pandemic thanks to strict health measures but the halt in tourism has significantly affected its tourism-dependent economy. A comprehensive set of stimulus measures to mitigate the economic impact of the pandemic, including a wage subsidy and income support for the self-employed, have provided support to firms and households.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 95 |
Release | : 2021-06-11 |
Genre | : Business & Economics |
ISBN | : 1513573179 |
In Turkey, as in other countries, the human and economic toll of the COVID-19 pandemic has been severe. Thousands of lives have been tragically lost and many livelihoods compromised. The initial policy response to the pandemic—and subsequent sharp growth rebound—set Turkey apart from its peers. Rapid monetary and credit expansion and large liquidity support meant that Turkey was among the few countries to experience positive economic growth in 2020. But these policies also aggravated pre-existing economic and financial vulnerabilities. Higher inflation, increased dollarization, and a large shift in the current account position increased pressure on the lira and gave rise to heavy foreign exchange sales, which led in turn to steep reserve declines from already-low levels. A policy shift in late 2020—mainly towards tighter and more transparent monetary policy and slower credit growth—was both welcome and necessary. But the durability and depth of the shift were called into question in March 2021, following the change in central bank leadership, as the lira weakened markedly and interest rate spreads widened.
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ISBN | : 9781475516722 |
Author | : International Monetary Fund. European Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 77 |
Release | : 2024-01-29 |
Genre | : Business & Economics |
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Malta has experienced an impressive recovery from the pandemic and demonstrated resilience to shocks resulting from Russia’s invasion of Ukraine. With weaker growth in Europe and waning post-pandemic pent-up demand, staff expect growth to decelerate somewhat but continue to expand by 61⁄4 percent in 2023 and 5 percent in 2024, among the highest in Europe. Persistent inflationary pressures are expected, while concern has risen about growing capacity constraints. The financial system has demonstrated resilience to successive shocks.
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