Malta: 2021 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Malta
IMF Staff Country Reports, September 17, 2021
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- Canonical URL
- Malta: 2021 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Malta
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Bibliographic details
- Published: September 17, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513596983.002
Economic impact and recent developments
- The fallout from the COVID-19 crisis has hit the Maltese economy hard, particularly its large tourism sector.
- Using fiscal buffers accumulated prior to the pandemic, the authorities have taken swift actions to support households, businesses, and the healthcare system.
- With the rapid rollout of COVID-19 vaccine, the economy has reopened for the summer tourism season.
- In late June 2021, the Financial Action Task Force (FATF) put Malta under increased monitoring due to concerns about effectiveness of its anti-money laundering and combatting the financing of terrorism (AML/CFT) framework.
Growth outlook and key projections
- The Maltese economy is expected to rebound by 5¾ percent in 2021.
- Growth in 2020 was -7¾ percent.
- The outlook is surrounded by a high degree of uncertainty.
Fiscal and policy response
- Authorities used pre-pandemic fiscal buffers to finance support measures targeted at households, businesses, and the healthcare system.
- Policy measures facilitated the reopening of the economy in conjunction with the vaccine rollout.
Financial sector and stability
- The financial system has remained stable through the COVID-19 shock.
Major themes and subjects covered
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- COVID-19
- Economic and financial statistics
- Economic sectors, including Tourism
- External sector statistics
- Health
- Monetary policy
- Public debt
- International organization engagement
International Monetary Fund. Malta: 2021 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Malta (September 17, 2021).
Content in this bundle
- 1mltea2021001