Republic of San Marino : Staff Report for the 2014 Article IV Consultation

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

April 29, 2014

Electronic Access:

Free Full text (PDF file size is 1282 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2014 Article IV Consultation on the Republic of San Marino highlights global crisis and tense relations with Italy, which triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino’s off-shore banking model. High liquidity in the system allowed banks to withstand the shock to deposits. Cassa di Risparmio della Repubblica di San Marino, the largest bank, has required 13 percent of GDP in public support. The deep recession and bank recapitalization costs are weighing heavily on public finances.

Series:

Country Report No. 14/104

Subject:

English

Publication Date:

April 29, 2014

ISBN/ISSN:

9781484358801/1934-7685

Stock No:

1SMREA2014001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

38

Please address any questions about this title to publications@imf.org