Republic of San Marino: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of San Marino

Publication Date: April 29, 2014
Electronic Access: Free Full text (PDF file size is 1,282KB).
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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(s): Article IV consultation reports | Economic recovery | Fiscal consolidation | Tax reforms | Banking sector | Bank resolution | Bank restructuring | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | San Marino

Publication Date: April 29, 2014
ISBN/ISSN: 9781484358801/1934-7685 Format: Paper
Stock No: 1SMREA2014001 Pages: 38
US$18.00 (Academic Rate:
US$18.00 )
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