Finland: Staff Report for the 2012 Article IV Consultation
IMF Staff Country Reports, August 31, 2012
Source details
- Canonical URL
- Finland: Staff Report for the 2012 Article IV Consultation
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Bibliographic details
- Published: August 31, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475506006.002
Executive summary and main findings
- The paper documents Finland’s unexpected upcoming deceleration in the economy at the end of 2011 and later.
- The deleveraging of the financial sector and the debt crisis created fears of an inevitable recession.
- Policy attention emphasized both short-term growth support and addressing long-term structural challenges.
- Banks were encouraged to build up capitals and toughen bank decrees.
- Plans were set out to multiply labor power and productivity.
- The Board welcomed the commitment of the state in improving and safeguarding the financial sector.
Policy recommendations and institutional responses
- Strengthen bank capital positions.
- Tighten regulatory/decree frameworks for banks.
- Pursue measures to increase labor supply and enhance productivity.
- Balance short-term growth support with reforms addressing long-term fiscal and demographic pressures.
Subject areas and keywords
- Subject: Aging, Banking, Expenditure, Financial crises, Financial institutions, Fiscal policy, Fiscal stance, Loans, Population and demographics, Public debt
- Keywords: Aging, Asia and Pacific, Baltics, consumer confidence, CR, current account statistics, deficit, Europe, FIN-FSA in cooperation, Finland, fiscal policy, Fiscal stance, Global, ISCR, Loans, revision, staff appraisal