Malta: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta

September 17, 2021

Preview Citation

Format: Chicago

Malta: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta, (USA: International Monetary Fund, 2021) accessed November 21, 2024

Summary

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 5¾ percent this year, up from -7¾ 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.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), COVID-19, Crime, Economic and financial statistics, Economic sectors, External sector statistics, Health, International organization, Monetary policy, Public debt, Tourism

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), COVID-19, External sector statistics, Global, IMF staff calculation, Liability positions vis-à-vis nonresident, Money market rate, Pandemic crisis, Per-capita emissions level, Policy direction, SDDS preparation, Stimulus measure, Tourism

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/211
Stock No:

1MLTEA2021001
ISBN:

9781513596983
ISSN:

1934-7685

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