Singapore: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Singapore
IMF Staff Country Reports, July 23, 2010
Source details
- Canonical URL
- Singapore: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Singapore
Other formats
Bibliographic details
- Published: July 23, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455207688.002
Executive summary and overall assessment
- Strong policies, resilient markets, and an improved external environment have helped Singapore tide over the recession.
- Singapore has a strong track record of proactive and forward-looking economic policymaking.
- Fiscal policy has regained its traditional medium-term orientation.
- Official reserve accumulation has to be kept under review.
- Social safety nets are well placed.
- Singapore’s exchange rate regime continues to serve the economy well, and the Monetary Authority of Singapore’s exchange-rate-centered monetary framework has been an important source of stability in times of economic turbulence.
Key findings (macroeconomic and financial)
- Balance of payments, Banking, Current account balance, Financial crises, Financial institutions, Financial services, Inflation, Loans, Prices are identified subject areas.
- Staff appraisal emphasizes resilient markets and policy responses that mitigated recessionary impacts.
- The exchange-rate-centered monetary framework is highlighted as an important source of stability in times of economic turbulence.
Policy implications and recommendations
- Maintain proactive and forward-looking economic policymaking to support recovery and medium-term stability.
- Continue the medium-term orientation of fiscal policy.
- Keep official reserve accumulation under review to ensure adequacy and avoid unintended risks.
- Preserve social safety nets that are reported as well placed.
- Retain the exchange rate regime and the Monetary Authority of Singapore’s exchange-rate-centered framework given its stabilizing role.
Publication and metadata
- Publication date: July 23, 2010
- Pages: 49
- Volume: 2010
- Issue: 226
- Series: Country Report No. 2010/226
- DOI: https://doi.org/10.5089/9781455207688.002
- Stock No: 1SGPEA2010001
- ISBN: 9781455207688
- ISSN: 1934-7685
International Monetary Fund. "Singapore: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Singapore", IMF Staff Country Reports 2010, 226 (2010).