United Kingdom: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for United Kingdom
July 15, 2009
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This 2009 Article IV Consultation highlights that economic growth in the United Kingdom has turned sharply negative since mid-2008. Housing prices have fallen by more than 20 percent from their peak, the unemployment rate has increased, and inflation has come down. In response to the crisis, the authorities have taken wide-ranging measures to stabilize the financial system and support demand. Executive Directors have stressed that the most important policy task remains repairing the financial system. Directors have also welcomed the adoption of the Special Resolution Regime for financial institutions.
Subject: Banking, Credit, Economic sectors, Financial crises, Financial sector, Financial statements, Money, Public debt, Public financial management (PFM)
Keywords: CR, Credit, economy, Financial sector, Financial statements, Global, government, government of Burma, government's support, holding, IMF staff estimate, ISCR, liquidity facilities, price, U.K. authorities, UK Treasury
Pages:
86
Volume:
2009
DOI:
Issue:
212
Series:
Country Report No. 2009/212
Stock No:
1GBREA2009001
ISBN:
9781451814347
ISSN:
1934-7685
