Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland

September 2, 2010

Preview Citation

Format: Chicago

Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

Owing to the high dependence of its exports on countries and commodities, Finland experienced the worst recession in the euro area. Executive Directors encouraged authorities to focus on improving bank cost efficiency, preventing excessive risk taking, and limiting liquidity and funding risks. Directors welcomed the establishment of the Nordic-Baltic Stability Group, and stressed the need to strengthen the effectiveness of cross-border supervision and crisis management arrangements. Directors welcomed structural reforms and also emphasized the need of a strong fiscal consolidation to secure fiscal sustainability.

Subject: Banking, Expenditure, Fiscal policy, Fiscal stance, Fiscal sustainability, Output gap, Production, Public debt

Keywords: CR, Deficit, Europe, Fiscal stance, Fiscal sustainability, Global, Headline deficit, IMF staff estimate, ISCR, Liability positions vis-à-vis nonresident, Output gap, Projection, Staff appraisal, Threshold of the SGP

Publication Details

Pages:

94
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/273
Stock No:

1FINEA2010001
ISBN:

9781455207725
ISSN:

1934-7685

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