Austria: 2009 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria
September 21, 2009
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This report is focused on the impact of the financial crisis on the Austrian economy and the financial sector, the authorities’ policy responses, and macrofinancial linkages and spillovers. The financial sector has been expanding rapidly, mostly outside Austria. This has brought substantial benefits, but also increased risks and vulnerabilities. Maintaining financial stability will be essential for ensuring macroeconomic stability, fiscal sustainability, and a return to growth, while also having important spillovers to regional financial stability. Austria traditionally benefits from a low unemployment rate compared with the euro area.
Subject: Banking, Commercial banks, Expenditure, Financial institutions, Financial sector, Financial sector policy and analysis, Income, Loans, National accounts, Stress testing
Keywords: asset guarantee, Commercial banks, core inflation, core inflation in Austria, CR, Eastern Europe, Europe, Global, headline inflation, IMF staff representative, Income, ISCR, Loans, participation capital, staff appraisal, Stress testing
Pages:
54
Volume:
2009
DOI:
Issue:
295
Series:
Country Report No. 2009/295
Stock No:
1AUTEA2009001
ISBN:
9781451802474
ISSN:
1934-7685
