## Czech Republic: Staff Report for the 2002 Article IV Consultation

_IMF Staff Country Reports, August 7, 2002_

## Source details

**Canonical URL:** [Czech Republic: Staff Report for the 2002 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/30/czech-republic-staff-report-for-the-2002-article-iv-consultation-16003)

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## Bibliographic details
- Published: August 7, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810059.002

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### Summary of main findings
- Following a period of inaction on the structural front and a protracted recession, economic growth in the Czech Republic has picked up.
- Underlying this performance have been supportive macroeconomic policies, large foreign direct investment, and steady progress with structural reform.
- Enterprise restructuring has led to rising structural unemployment and large regional disparities in unemployment rates.
- Sizable losses were accumulated by banks, which had to be transferred to the government to allow the banks to be sold to strategic investors, adding to medium-term fiscal pressures.

### External sector and investment
- Large foreign direct investment supported the recovery in economic growth.
- Balance of payments and FDI inflow are identified among the subject areas of the report.

### Fiscal and financial sector pressures
- Sizable banking losses were transferred to the government to facilitate sales to strategic investors.
- These transfers are noted as adding to medium-term fiscal pressures.
- Government debt management and public financial management (PFM) are listed as subjects relevant to the report.

### Labor market and structural reform
- Enterprise restructuring produced rising structural unemployment.
- The report highlights large regional disparities in unemployment rates.
- Structural reform progress is described as steady, yet earlier inaction contributed to the prior recession.

### Policy-relevant subject areas covered
- Balance of payments
- Expenditure
- External debt
- Foreign direct investment
- Government debt management
- Inflation, Prices
- Public financial management (PFM)

*Source: Czech Republic: Staff Report for the 2002 Article IV Consultation*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/czech-republic-staff-report-for-the-2002-article-iv-consultation-16003_