Republic of San Marino: Selected Issues
IMF Staff Country Reports, March 15, 2010
Source details
- Canonical URL
- Republic of San Marino: Selected Issues
Other formats
Bibliographic details
- Published: March 15, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451982350.002
Summary
- This Selected Issues paper for the Republic of San Marino analyzes options for managing systemic liquidity risk.
- The paper states that financial dollarization/euroization—as in the case of San Marino—or a currency board arrangement can complicate banking crisis management and increase the vulnerability of financial systems to liquidity shocks because they limit the ability of the monetary authority to act as a lender of last resort.
- The paper reviews the current pension system of San Marino, in comparison with other European pension systems, and analyzes its sustainability.
Systemic liquidity risk and crisis management
- Key observation: Financial dollarization/euroization or a currency board arrangement can complicate banking crisis management.
- Mechanism highlighted: These arrangements increase vulnerability to liquidity shocks because they limit the ability of the monetary authority to act as a lender of last resort.
Pension system review and sustainability analysis
- The paper reviews the current pension system of San Marino in comparison with other European pension systems.
- The paper analyzes the sustainability of San Marino’s pension system.
Content in this bundle
- Republic of San Marino: Selected Issues; IMF Country Report 10/66; February 2, 2010