Czech Republic: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Czech Republic
April 14, 2009
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Growth in the Czech Republic is projected to slow sharply in 2009 amid a gathering recession abroad and tightening credit at home. This 2008 Article IV Consultation highlights that the shrinking demand from the euro area, especially Germany, will curtail exports and direct investment inflows. Executive Directors have praised the generally strong fundamentals that have helped the Czech economy weather the initial spillover effects of the global financial crisis relatively well. Directors have supported the Czech National Bank’s recent decisions to cut the policy interest rate.
Subject: Balance of payments, Banking, Credit, Current account balance, External debt, Inflation, Money, Prices, Public debt
Keywords: CR, Credit, Current account balance, Czech authorities, deficit, economy, Europe, exchange rate criterion, fund staff estimate, Global, Inflation, ISCR, staff appraisal, staff Proj, staff Proj.
Pages:
47
Volume:
2009
DOI:
Issue:
122
Series:
Country Report No. 2009/122
Stock No:
1CZEEA2009001
ISBN:
9781451810288
ISSN:
1934-7685
