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

International Monetary Fund

No 2009/295, IMF Staff Country Reports from International Monetary Fund

Abstract: This report is focused on the impact of the financial crisis on the Austrian economy and the financial sector, the authorities’ policy responses, and macrofinancial linkages and spillovers. The financial sector has been expanding rapidly, mostly outside Austria. This has brought substantial benefits, but also increased risks and vulnerabilities. Maintaining financial stability will be essential for ensuring macroeconomic stability, fiscal sustainability, and a return to growth, while also having important spillovers to regional financial stability. Austria traditionally benefits from a low unemployment rate compared with the euro area.

Keywords: ISCR; CR; core inflation in Austria; headline inflation; core inflation; staff appraisal; asset guarantee; participation capital; IMF staff representative; Income; Loans; Stress testing; Commercial banks; Eastern Europe; Europe; Global (search for similar items in EconPapers)
Pages: 54
Date: 2009-09-21
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