{
  "title": "New Zealand: 2021 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for New Zealand",
  "publication": "IMF Staff Country Reports, May 5, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/05/05/new-zealand-2021-article-iv-consultation-press-release-staff-report-staff-statement-and-50183",
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  "summary": "New Zealand’s sound management of the COVID-19 crisis has been effective in bringing infection rates quickly under control. Decisive fiscal and monetary policy responses have been instrumental in cushioning the economic impact.",
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      "heading": "Summary and key findings",
      "content": "- New Zealand’s sound management of the COVID-19 crisis has been effective in bringing infection rates quickly under control.\n- Decisive fiscal and monetary policy responses have been instrumental in cushioning the economic impact.\n- Although economic activity was hit hard initially, it has recovered faster than expected.\n- The recovery has been uneven, with some sectors and workers disproportionately affected."
    },
    {
      "heading": "Economic impact and recovery",
      "content": "- Initial economic activity: \"hit hard initially\" by the COVID-19 crisis.\n- Recovery tempo: \"recovered faster than expected.\"\n- Distributional outcome: \"uneven, with some sectors and workers disproportionately affected.\""
    },
    {
      "heading": "Policy responses and institutional context",
      "content": "- Fiscal policy: described as \"decisive\" in cushioning the economic impact.\n- Monetary policy: described as \"decisive\" and instrumental in cushioning the economic impact.\n- Public health response: management described as \"sound\" and effective in bringing infection rates quickly under control."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: COVID-19, Health, Housing, Housing prices, Income, Infrastructure, International organization, Monetary policy, National accounts, Prices\n- Keywords: amendment bill, consumer price inflation, COVID-19, elimination strategy, Global, government agenda, Housing, Housing prices, Income, inflation outturn, Infrastructure, stats NZ\n\n---\n\n Content in this bundle\n\n- 1nzlea2021001\n  - 1nzlea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1nzlea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 5, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513572949.002",
    "New Zealand’s sound management of the COVID-19 crisis has been effective in bringing infection rates quickly under control.",
    "Decisive fiscal and monetary policy responses have been instrumental in cushioning the economic impact.",
    "Although economic activity was hit hard initially, it has recovered faster than expected.",
    "The recovery has been uneven, with some sectors and workers disproportionately affected.",
    "Initial economic activity: \"hit hard initially\" by the COVID-19 crisis.",
    "Recovery tempo: \"recovered faster than expected.\"",
    "Distributional outcome: \"uneven, with some sectors and workers disproportionately affected.\"",
    "Fiscal policy: described as \"decisive\" in cushioning the economic impact.",
    "Public health response: management described as \"sound\" and effective in bringing infection rates quickly under control.",
    "Subject: COVID-19, Health, Housing, Housing prices, Income, Infrastructure, International organization, Monetary policy, National accounts, Prices",
    "Keywords: amendment bill, consumer price inflation, COVID-19, elimination strategy, Global, government agenda, Housing, Housing prices, Income, inflation outturn, Infrastructure, stats NZ",
    "**1nzlea2021001**"
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