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Italy :, 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; Statement by the Executive Director for Italy

Label
Italy :, 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; Statement by the Executive Director for Italy
Language
eng
Abstract
The global crisis had a severe impact on the Italian economy despite elements of strength such as high private savings, low private indebtedness, and a resilient financial system. Executive Directors decided that the public sector wage bill should remain a key element of the consolidation strategy, and close monitoring of subnational public finances should be continued. They commended the authorities for the progress made in structural reforms but stressed that a more ambitious program of reforms needed to be pursued to address Italy’s growth potential
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Italy :
Nature of contents
dictionaries
Oclc number
876511524
Series statement
IMF Staff Country Reports
Sub title
2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; Statement by the Executive Director for Italy
Table Of Contents
Cover; Executive Summary; Contents; I. Context: The Global Crisis Exacerbated Pre-Existing Problems; A. Before the Crisis (1999-2007); Figures; 1. Standard Competitiveness Indicators Indicate a Gap; B. The Global Crisis (2008-09); 2. Economic Recovery is Underway; 3. Fiscal Overview 1995-2009; II. Outlook: A Modest and Fragile Recovery; III. The Policy Agenda: Renewing The Reform Momentum to Foster Sustained Growth; A. Fiscal Sector: Deep Expenditure-Based Consolidation Required; 4. Fiscal Projections, 1996-2015; 5. Pension System, Reforms, and RisksB. Financial Sector: Mitigating VulnerabilitiesBoxes; 1. Recent Fiscal Framework Reforms; 2. Scenario Analysis of the Banking Sector; C. Renewing the Structural Reform Momentum; 6. Labor Market's Outcomes in Cross-Country Comparison, 2009; IV. Staff Appraisal ; Tables; 1. Summary of Economic Indicators; 2. General Government Accounts, 2007-2015; 3. Financial Soundness Indicators; Appendices; 1. Scenario Analysis of the Banking Sector; 2. Financial Indicators, 2007-2010; Analytical Annexes; I. Italy's Fiscal Sustainability Revisited; Box 1. Highlights of the Italian Pension ReformV. ReferencesTable 1A. Age-Related Government Expenditure, 2007-2060; Table 2A. Parameters of Pension Systems in the Advanced G-20 Countries; Box 1A. Italy's Long-Term Fiscal Outlook: Some Highlights in Numbers; II. After the Crisis: Assessing the Damage; Figure 1: Contribution to GDP growth; Table 1. Italy: Gross Value Added Growth and Contributions 1/; Table 2. Contributions to Growth in Times of Crisis; Figure 2. Comparing Recessions; Figure 3. Demand or Supply? Capacity Utilization and Expected Capacity ConstraintsFigure 4. Looking at Potential and Labor Productivity Growth Using HP TrendsFigure 5. Short- and Medium-term Forecasts Based on a MV Approach; Table 3. Summary of Economic Indicators Implied by the PFA; Figure 6: Short- and Medium-term Forecasts Based ona Production Function Approach; Table 4. Output Losses versus Initial Conditions; Figure 7: Evidence From Previous Episodes; Table 5: Policy Areas Likely Responsible for GDP Performance; Table 1. Maximum Regularised Likelihood; Table 2. Forecasting Accuracy and Revision RobustnessIII. The Recent Slowdown in Bank Credit Growth: What are the Facts?Table 1. Historical Episodes of Sharp Slowdown in Domestic Credit; Table 2. Regression Results 1/; Figure 1 . Italy: Bank of Italy Bank Lending Survey: Supply Conditions; Figure 2. Italy: Bank of Italy Bank Lending Survey: Demand Conditions; IV. Resisting the Storm, Navigating the Recovery: The Case of Italian Banks; Figure 4. Barometer of Asset Quality Deterioration: Italy Vs Europe; Box 1. Measuring the Impact of the Crisis: Asset Quality Deterioration in Italy and in EuropeTable 1. Capital Management at Top Five Italian Banks: Pre-crisis vs Post-crisis
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