Regional Economic Outlook
April 19, 2024
Soft Landing in Crosswinds for a Lasting RecoveryA soft landing for Europe’s economies is within reach. Securing the baseline of growth with price stability will require careful monetary policy calibration. Faster fiscal consolidation would ensure buffers are adequate to tackle future shocks, while structural fiscal reforms would help address mounting long-term expenditure pressures. Beyond the near-term recovery, raising potential growth prospects calls for efforts at both the domestic and European levels. Measures should aim to raise labor force participation, prepare the workforce for looming structural shifts, set an enabling environment for private investment, and promote innovation on a level European playing field—especially when it comes to the green transition, including through a strong commitment to carbon pricing. Greater European integration would amplify the effect of these reforms. Formulating an ambitious set of growth-enhancing reforms should be a key priority of a new EU commission.
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News and Highlights
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IMF Executive Board Concludes 2024 Article IV Consultation with Montenegro
May 3, 2024
The Montenegrin economy grew robustly by 6 percent in 2023 as consumption remained strong, tourism revenues exceeded pre-pandemic levels, and the influx of relatively affluent Russian and Ukrainian nationals due to Russia’s war in Ukraine also contributed to growth. The unemployment rate has fallen to an all-time low. Inflation has come down significantly from its peak in 2022, aided by easing international food prices.
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IMF Staff Concludes Visit to Moldova
May 3, 2024
IMF Staff Concludes Visit to Moldova
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April 26, 2024
Series:Technical Assistance Report No. 2024/033
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Transcript of European Department April 2024 Press Briefing
April 19, 2024
Hello everyone. Thank you for joining today's press conference on the release of the European Economic Outlook. My name is Camila Pérez. I am a Communications Officer with the IMF. Here we are with Alfred Kammer.
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Transcript of IMF Managing Directors Press Briefing on the Global Policy Agenda
April 18, 2024
Transcript of IMF Managing Directors Press Briefing on the Global Policy Agenda
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Republic of Estonia: Staff Concluding Statement of the 2024 Article IV Mission
April 15, 2024
Recent shocks have triggered supply side disruptions and a large rise in inflation. Inflation has now eased, but price and cost levels have shifted up compared to the euro area average, hurting competitiveness.
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IMF Executive Board Selects Kristalina Georgieva to Serve a Second Term as Managing Director
April 12, 2024
The Executive Board of the International Monetary Fund (IMF) today selected Kristalina Georgieva to serve as IMF Managing Director and Chair of the Executive Board for a second five-year term starting on October 1, 2024. The Board’s decision was taken by consensus.
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April 4, 2024
An International Monetary Fund (IMF) mission, led by Mr. Sebastian Sosa, visited Pristina during March 18–27, 2024 to hold discussions on the second reviews of Kosovo’s Stand-By Arrangement (SBA) and Resilience and Sustainability Facility (RSF) Arrangement.
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March 26, 2024
An International Monetary Fund (IMF) mission, led by Donal McGettigan, held in-person meetings with the Serbian authorities during March 14-26, 2024 to discuss performance under Serbia’s Stand-By Arrangement
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March 22, 2024
Series:Technical Assistance Report No. 2024/025
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March 22, 2024
Series:Technical Assistance Report No. 2024/023
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March 22, 2024
Series:Country Report No. 2024/078
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IMF Executive Board Completes the Third Review of the Extended Fund Facility Arrangement for Ukraine
March 21, 2024
The Executive Board of the International Monetary Fund (IMF) today completed the third Review of the EFF arrangement for Ukraine.
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Bosnia and Herzegovina: Concluding Statement 2024 Article IV Consultation Mission
March 19, 2024
Growth has proven resilient despite the continued fallout from the war in Ukraine and is set to strengthen starting this year albeit to subpar levels. Inflation continues to decline, but wage pressures linger. Risks remain elevated, including from an intensification of regional conflicts and an abrupt slowdown in Europe, and domestically, from rising political tensions and more expansionary macroeconomic policies. On the other hand, opening of European Union accession talks could sustain the reform momentum and boost confidence.
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Bulgaria: Staff Concluding Statement of the 2024 Article IV Mission
March 19, 2024
Bulgaria: Staff Concluding Statement of the 2024 Article IV Mission
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Executing a Soft Landing for a Lasting Recovery
March 15, 2024
Today’s gathering comes two years after Russia’s invasion of Ukraine, a subsequent energy-price roller coaster, and the advent of a more fragmented global economy. Against this backdrop Europe has done well, because governments acted fast and decisively. Unemployment rates have remained low, inflation has declined sharply, and the EU announced a new accession effort—stemming the tide of fragmentation.
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The Economic Possibilities For My Grandchildren
March 14, 2024
IMF Managing Director’s Keynote Speech at King’s College, Cambridge, followed by a conversation with provost Gillian Tett featuring Kristalina Georgieva
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Slovak Republic: 2023 Article IV Consultation-Press Release and Staff Report
March 13, 2024
Series:Country Report No. 2024/075
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IMF Executive Board Concludes 2023 Article IV Consultation with Slovak Republic
March 13, 2024
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Slovak Republic on March 6, 2024.
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Slovak Republic: Selected Issues
March 13, 2024
Series:Country Report No. 2024/076
About Us
The IMF Regional Office in Warsaw was established in February 2005, succeeding the Resident Representative office for Poland. Its primary task is to enhance the IMF's ability to carry out surveillance in Central and Eastern Europe, including with regard to financial stability, economic convergence and integration, and the jobs and growth agenda.
To this end, the Regional Office:
- complements the work of headquarter-based mission teams by focusing on post-crisis issues across the region;
- cooperates with regional partners within the Vienna 2 Initiative framework for safeguarding financial stability in the region;
- monitors and analyzes economic developments from a regional perspective, identifies policy issues, and informs the IMF's staff at headquarters;
- maintains contacts with governments, civil society and other relevant institutions (such as the European Commission and the ECB);
- provides information to the media and other interested groups about the IMF's economic analysis and policy advice in the region.