Finland: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland

International Monetary Fund

No 2009/039, IMF Staff Country Reports from International Monetary Fund

Abstract: Finland’s 2008 Article IV Consultation shows that spillovers from the global turmoil are adversely affecting activity and may weaken the financial system. From a cyclical perspective, a fiscal structural loosening is warranted. Its effectiveness in Finland’s small, open economy would be limited in the absence of an EU-wide fiscal package. The authorities have been confident that an EU-coordinated budget expansion is in the works. There has been agreement that loosening should be designed to minimize damage to long-term fiscal sustainability.

Keywords: ISCR; CR; PRGF arrangement; SDR; amount equivalent to SDR; IMF staff estimate; oil price mechanism; West public finance management mission; excl. IMF; Current spending; Capital spending; Oil prices; Tax administration core functions; West Africa; Global (search for similar items in EconPapers)
Pages: 85
Date: 2009-02-04
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Citations: View citations in EconPapers (1)

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