The IMF and Europe
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High-level overview and key messages
- Remarks by Managing Director Georgieva were delivered at the Centre for European Policy Studies in Brussels, Belgium under the theme "A Bigger, Better, Bolder Europe."
- Regional diagnosis (Overcoming Europe’s Policy Drift: From Recognition to Action, October 2025): Europe’s growth is slowing and debt rising. Closing the productivity gap with the US is stated to be "firmly in Europe’s grasp." Recommended priorities are to deepen integration, raise productivity, and secure long-term fiscal sustainability.
- Regional Economic Outlook for Europe, April 2026, provides the IMF’s regional economic assessment and projections for Europe.
Country consultations and surveillance (selected Article IV and related reviews)
- Republic of Latvia: 2026 Article IV Consultation-Press Release; and Staff Report | September 21, 2026
- Republic of Estonia: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Estonia | September 3, 2026
- Switzerland: 2026 Article IV Consultation-Press Release; and Staff Report | September 1, 2026
- Republic of Lithuania: 2026 Article IV Consultation-Press Release; and Staff Report | August 10, 2026
- Iceland: 2026 Article IV Consultation-Press Release; and Staff Report | July 30, 2026
- Bosnia and Herzegovina: 2026 Article IV Consultation-Press Release; and Staff Report | July 28, 2026
- Kingdom of The Netherlands—The Netherlands: 2026 Article IV Consultation-Press Release; and Staff Report | July 27, 2026
- Italy: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy | July 24, 2026
- France: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France | July 22, 2026
- Sweden: 2026 Article IV Consultation-Press Release; and Staff Report | July 21, 2026
- Ukraine: 2026 Article IV Consultation and First Review of the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Applicability of Performance Criteria, a Waiver of Nonobservance of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Alternate Executive Director for Ukraine | July 21, 2026
- Austria: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Alternate Executive Director for Austria | July 20, 2026
- Belgium: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belgium | February 23, 2026
- Euro Area Policies: 2026 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries | July 16, 2026
Thematic analysis, findings, and policy recommendations
- Europe and the Global AI Race | September 19, 2026
- Focus: positioning Europe to capture AI-driven growth and competitiveness gains.
- Deepening EU–Western Balkans Economic Integration: Scope and Economic Gains | September 18, 2026
- Finding: stronger integration with the Western Balkans is presented as having identifiable economic gains.
- Bridging Borders: Making the Most of EU Accession | September 8, 2026
- Recommendation: leverage accession processes to maximize integration and reforms.
- Monetary Policy with Supply Shocks and High Debt | September 7, 2026
- Analysis: interactions between supply shocks and elevated public debt in monetary policy design.
- Labor Productivity Growth in the Nordics: The Roles of Frontier Firms and Diffusion | August 28, 2026
- Finding: frontier firms and diffusion are central to Nordic productivity growth.
- Rethinking the Credit-Growth Nexus: New Credit Flows and Private Demand in the Euro Area | August 28, 2026
- Analysis: implications of new credit flows for private demand dynamics in the euro area.
- Locked Out: Drivers and Economic Implications of Declining Housing Affordability in Europe | August 28, 2026
- Finding: declining housing affordability has material macroeconomic implications.
- Toward a 28th European Enterprise Regime: A Single Rulebook to Enable Cross-Border Scale-Up in Europe | July 23, 2026
- Recommendation: adopt a single rulebook to facilitate cross-border scaling of firms.
- Europe’s Fiscal Squeeze: Tackling Rising Spending Pressures | July 13, 2026
- Policy emphasis: manage rising spending pressures to preserve fiscal sustainability.
- Barriers to a European Banking Union | June 12, 2026
- Analysis: identification of structural and political barriers to banking union completion.
- Toward a European Energy Union | June 11, 2026
- Recommendation: deeper coordination in energy policy to enhance resilience and integration.
- The 2026 Energy Shock: How to Deliver Targeted and Temporary Support while Encouraging Energy Conservation—Learning from the 2022 shock and best practice in 2026 | May 4, 2026
- Recommendation: design support that is targeted and temporary while promoting conservation.
- Unleashing Europe’s Economic Potential | March 11, 2026
- Prescription: reforms to raise productivity and growth potential.
- Reforming under pressure Europe’s agenda for robust growth and higher productivity | March 10, 2026
- Recommendation: prioritize reforms that enhance productivity under fiscal and external pressures.
- Re-energizing Europe | February 4, 2026
- Emphasis: revitalizing growth through structural reforms and integration.
Euro area-specific assessments
- Euro Area Policies: 2026 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries | July 16, 2026
- Euro Area Policies: Financial System Stability Assessment | July 23, 2025
- Euro Area Policies: 2025 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries | July 11, 2025
- Euro Area Policies: 2024 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries | July 30, 2024
Regional presence and operational footprint
- Resident Representative Offices listed for Albania, Bosnia and Herzegovina, Bulgaria, Cyprus, Hungary, Ireland, Kosovo, Moldova, North Macedonia, Romania, Russia, Serbia, Turkey, and Ukraine.
- Regional Offices include:
- IMF Europe Office in Paris and Brussels
- IMF Regional Office for Central, Eastern and Southeastern Europe
- Regional Office for the Western Balkans
- Training facilities: Joint Vienna Institute
IMF commentary and blogs relevant to Europe (selection)
- Financial Market Reforms Could Lift Europe's Growth (July 14, 2026)
- Europe Can Regain Its Productivity Edge by Scaling Up (March 12, 2026)
- How Europe Can Capture the AI Growth Dividend (November 20, 2025)
- A United Europe Can Shape the Global Economy (June 3, 2025)
- Europe Needs a Coordinated Approach to Industrial Policy (December 16, 2024)
- The 2004 EU Enlargement Was a Success Story Built on Deep Reform Efforts (December 3, 2024)
- New European Wealth Gauge Helps Policymakers Address Inequality (November 19, 2024)
Content in this bundle
- Europe’s Fiscal Tightrope
- Imf Note on How to Design Support in the Face of the 2026 Energy Shock Europe
- Staff Paper (summary unavailable) (PDF)
- Vienna Initiative – CESEE Deleveraging and Credit Monitor | July 1, 2024
References
- Read the speech
- Republic of Latvia: 2026 Article IV Consultation-Press Release; and Staff Report | September 21, 2026
- Republic of Estonia: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Estonia | September 3, 2026
- Switzerland: 2026 Article IV Consultation-Press Release; and Staff Report | September 1, 2026
- Republic of Lithuania: 2026 Article IV Consultation-Press Release; and Staff Report | August 10, 2026
- Iceland: 2026 Article IV Consultation-Press Release; and Staff Report | July 30, 2026
- Bosnia and Herzegovina: 2026 Article IV Consultation-Press Release; and Staff Report | July 28, 2026
- Kingdom of The Netherlands—The Netherlands: 2026 Article IV Consultation-Press Release; and Staff Report | July 27, 2026
- Italy: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy | July 24, 2026
- France: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France | July 22, 2026
- Sweden: 2026 Article IV Consultation-Press Release; and Staff Report | July 21, 2026
- Ukraine: 2026 Article IV Consultation and First Review of the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Applicability of Performance Criteria, a Waiver of Nonobservance of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Alternate Executive Director for Ukraine | July 21, 2026
- Austria: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Alternate Executive Director for Austria | July 20, 2026
- Belgium: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belgium | February 23, 2026
- Euro Area Policies: 2026 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries | July 16, 2026
- Europe and the Global AI Race | September 19, 2026
- Deepening EU–Western Balkans Economic Integration: Scope and Economic Gains | September 18, 2026
- Bridging Borders: Making the Most of EU Accession | September 8, 2026
- Monetary Policy with Supply Shocks and High Debt | September 7, 2026
- Labor Productivity Growth in the Nordics: The Roles of Frontier Firms and Diffusion | August 28, 2026
- Rethinking the Credit-Growth Nexus: New Credit Flows and Private Demand in the Euro Area | August 28, 2026
- Locked Out: Drivers and Economic Implications of Declining Housing Affordability in Europe | August 28, 2026
- Toward a 28th European Enterprise Regime: A Single Rulebook to Enable Cross-Border Scale-Up in Europe | July 23, 2026
- Europe’s Fiscal Squeeze: Tackling Rising Spending Pressures | July 13, 2026
- Toward a European Energy Union | June 11, 2026
- Driving Lessons from Poland’s Growth Journey | May 2026
- IMF Announces a New Regional Technical Assistance Center for Southeast Europe | March 23, 2026
- Unleashing Europe’s Economic Potential | March 11, 2026
- Reforming under pressure Europe’s agenda for robust growth and higher productivity | March 10, 2026
- Re-energizing Europe | February 4, 2026
- REO
- Regional Economic Outlook for Europe, April 2026
- Financial Market Reforms Could Lift Europe's Growth(July 14, 2026)
- Europe Can Regain Its Productivity Edge by Scaling Up(March 12, 2026)
- How Europe Can Capture the AI Growth Dividend(November 20, 2025)
- A United Europe Can Shape the Global Economy(June 3, 2025)
- Europe Needs a Coordinated Approach to Industrial Policy(December 16, 2024)
- The 2004 EU Enlargement Was a Success Story Built on Deep Reform Efforts(December 3, 2024)
- New European Wealth Gauge Helps Policymakers Address Inequality(November 19, 2024)
- Euro Area Policies: Financial System Stability Assessment (July 23, 2025)
- Euro Area Policies: 2025 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries (July 11, 2025)
- Euro Area Policies: 2024 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries (July 30, 2024)
- IMF Office in Albania
- IMF Office in Bosnia and Herzegovina
- IMF Office in Bulgaria
- IMF Office in Cyprus
- IMF office in Hungary
- IMF Office in Ireland
- IMF Office in Kosovo
- IMF Office in Moldova
- IMF Office in North Macedonia
- IMF Office in Romania
- IMF Office in Russia
- IMF Office in Serbia
- IMF Office in Turkey
- IMF Office in Ukraine
- IMF Europe Office in Paris and Brussels
- Regional Office for the Western Balkans