Belgium: 2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2009/087, IMF Staff Country Reports from International Monetary Fund

Abstract: The global financial crisis has forced government intervention in major financial institutions in Belgium. This 2008 Article IV Consultation discusses that the boom in energy and food prices in early 2008 caused inflation to spike to well above the euro area average. Executive Directors have commended the authorities for their prompt and decisive intervention as the Belgian banking sector began to face severe pressure in September 2008. Directors have also encouraged the authorities to allow fiscal stabilizers to operate fully, and welcomed the moderate discretionary stimulus.

Keywords: ISCR; CR; deficit; Belgium; worse-than-anticipated growth result; growth; real GDP contraction; recession; IMF staff projection; headline inflation; banking sector; Fiscal stance; Inflation; Global; Central and Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 40
Date: 2009-03-09
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