Czech Republic: Staff Report for the 2000 Article IV Consultation
IMF Staff Country Reports, August 9, 2000
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- Czech Republic: Staff Report for the 2000 Article IV Consultation
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Bibliographic details
- Published: August 9, 2000
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810035.002
Summary and Main Findings
- Following a severe and protracted recession, a modest economic recovery has taken hold in the Czech Republic.
- Economic growth turned modestly positive after the first quarter of 1999, led by a rebound in household consumption and a recovery of demand in European Union (EU) trading partners.
- Investment remained weak owing to banking and corporate sector restructuring.
- Executive Directors agreed that macroeconomic policies needed to strike a balance between sustaining the pace of recovery and making progress toward achieving medium-term policy objectives.
Economic Conditions and Drivers
- Growth: Modest recovery beginning after Q1 1999.
- Demand drivers: Household consumption rebound; recovery of demand in EU trading partners.
- Weakness: Investment constrained by banking and corporate sector restructuring.
Policy Analysis and Recommendations
- Macroeconomic policy stance: Needs to balance sustaining short-term recovery with advancing medium-term objectives.
- Key policy themes identified in the report: Monetary policy (including inflation targeting), inflation control, banking sector reform, corporate sector restructuring, privatization, and fiscal revenue/deficit management.
Subject Areas and Keywords
- Subject: Commercial banks, Corporate sector, Economic sectors, Financial institutions, Inflation, Inflation targeting, Monetary policy, Prices, Privatization
- Keywords: banking sector problem, CNB, Commercial banks, Corporate sector, CR, current account deficit, deficit, fixed capital capital formation, Global, government, Inflation, Inflation targeting, ISCR, policy objective, Privatization, revenue growth, state budget, Western Europe
Content in this bundle
- Czech Republic: Staff Report for the 2000 Article IV Consultation - ISCR/00/96
- Stm0096