Australia: Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia
IMF Staff Country Reports, February 12, 2014
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- Australia: Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia
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Bibliographic details
- Published: February 12, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475555097.002
Growth and mining sector dynamics
- Highlights below-trend GDP growth during the 2013 Article IV consultation.
- Notes the beginning of the decline of the investment phase of the mining boom, which "has passed its peak."
- Key policy challenge: manage the mining-production/export phase while encouraging broader-based growth.
External risks
- Main external risks identified:
- A slowdown in China over the medium term.
- Surges in global financial market volatility.
Housing market and prices
- Observes a pickup in housing market activity that has been "welcome to date."
- Warns that accelerating house prices could pose a future risk if they lead to overshooting.
Financial sector resilience and vulnerabilities
- Assesses the financial sector as resilient and strengthened in recent years.
- Notes continued reliance of banks on offshore funding.
- Recommends emphasis on:
- Tight lending standards.
- Intensive supervision to help limit financial sector risks.
Publication and metadata
- Pages: 79
- Volume: 2014
- Issue: 051
- Series: Country Report No. 2014/051
- DOI: https://doi.org/10.5089/9781475555097.002
- Stock No: 1AUSEA2014001
- ISBN: 9781475555097
- ISSN: 1934-7685
- Publication date shown on landing page: February 12, 2014
International Monetary Fund. Australia: Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia.