France: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for France
IMF Staff Country Reports, July 30, 2010
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- France: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for France
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Bibliographic details
- Published: July 30, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455204748.002
Economic performance and outlook
- The French economy "weathered global crisis better than most of its peers."
- The authorities implemented "suitable fiscal stimulus to cushion the downturn."
- Subject tags: Banking, Expenditure, Financial crises, Fiscal consolidation, Labor, Pension spending, Public debt, Unemployment
- Keywords included: accelerator effect, banking sector, CR, deficit, draft law, Europe, Global, government, ISCR, Pension spending, revenue floor, Southern Europe, stress scenario, stress test result, Tier 1, Unemployment
Policy actions taken
- Important policy actions were taken "to stabilize the financial system."
- The authorities pursued fiscal stimulus measures described as "suitable" to cushion the downturn.
- The policy agenda aims to:
- "strengthen the economy through fiscal consolidation,"
- "recovery of financial system,"
- "improving financial regulation,"
- "implementing structural reforms to raise potential growth, create jobs, and strengthen competitiveness."
Executive Directors' assessment and recommendations
- Executive Directors "welcomed the policy."
- They "stressed the importance of a multiyear budget framework to enhance the credibility of the consolidation effort."