IMF Staff Country Reports

France: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for France

Publication Date:

July 31, 2009

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2009 Article IV Consultation highlights that the global financial crisis and the contraction of world trade have pulled the French economy into a severe recession and put its financial sector under strain. Structural features combined with early policy action have helped soften the downturn. Executive Directors have noted that the near-term economic outlook remains challenging, with GDP growth expected to decrease by 3 percent in 2009. Directors have also stressed that safeguarding medium-term fiscal sustainability and avoiding unsustainable debt dynamics is a key priority for the coming years.

Series:

Country Report No. 2009/232

Subject:

Banking Credit Expenditure Financial institutions Fiscal policy Fiscal stance Fiscal stimulus Loans Money Public debt