IMF Staff Country Reports

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

Publication Date:

July 15, 2009

Electronic Access:

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

Summary:

This 2009 Article IV Consultation highlights that economic growth in the United Kingdom has turned sharply negative since mid-2008. Housing prices have fallen by more than 20 percent from their peak, the unemployment rate has increased, and inflation has come down. In response to the crisis, the authorities have taken wide-ranging measures to stabilize the financial system and support demand. Executive Directors have stressed that the most important policy task remains repairing the financial system. Directors have also welcomed the adoption of the Special Resolution Regime for financial institutions.

Series:

Country Report No. 2009/212

Subject:

Banking Credit Economic sectors Financial crises Financial sector Financial statements Money Public debt Public financial management (PFM)