Republic of San Marino : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

May 10, 2016

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper assesses key issues related to the economy of the Republic of San Marino. It remains in transition following the implosion of its offshore banking model in the aftermath of the global crisis, resulting in the loss of a third of output. The impact of the global financial crisis, which led to a massive outflow of nonresident deposits and a sharp downsizing of its large financial sector, caused an extraordinary loss of a third of San Marino’s output—the largest in Europe. A number of important steps need to be taken for sustainable growth strengthening the banking system, realigning fiscal policy, and improving flexibility to enable the diversification.

Series:

Country Report No. 16/111

Subject:

English

Publication Date:

May 10, 2016

ISBN/ISSN:

9781484343890/1934-7685

Stock No:

1SMREA2016001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

42

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