Singapore: Staff Report for the 2011 Article IV Consultation

February 10, 2012

Preview Citation

Format: Chicago

Singapore: Staff Report for the 2011 Article IV Consultation, (USA: International Monetary Fund, 2012) accessed November 27, 2024

Summary

Singapore’s economy is slowing against the backdrop of a deteriorating external environment and a softening of exports. The main near-term risks are a protracted slowdown in advanced economies and a sharp increase in global financial stress. Given Singapore’s openness, these shocks would hit the economy severely through weaker exports, reduced capital inflows, slower credit, and a fall in financial market activity. The authorities have sufficient policy space to deploy a decisive response in case these risks materialize. A rapid increase in foreign currency lending may also raise the risk of funding strains.

Subject: Banking, Credit, Financial institutions, Housing, Housing prices, Inflation, Loans, Money, National accounts, Prices

Keywords: Asia and Pacific, Core inflation, CR, Credit, Global, Growth outlook, Headline inflation, Housing, Housing prices, Inflation, ISCR, IT market, Loans, Mas core inflation, Medium-term challenge, Singapore, Singapore economy

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/042
Stock No:

1SGPEA2012001
ISBN:

9781463935795
ISSN:

1934-7685

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