{
  "title": "Malta: 2021 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Malta",
  "publication": "IMF Staff Country Reports, September 17, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/09/17/malta-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-465870",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Economic impact and recent developments",
      "content": "- The fallout from the COVID-19 crisis has hit the Maltese economy hard, particularly its large tourism sector.\n- Using fiscal buffers accumulated prior to the pandemic, the authorities have taken swift actions to support households, businesses, and the healthcare system.\n- With the rapid rollout of COVID-19 vaccine, the economy has reopened for the summer tourism season.\n- 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."
    },
    {
      "heading": "Growth outlook and key projections",
      "content": "- The Maltese economy is expected to rebound by 5¾ percent in 2021.\n- Growth in 2020 was -7¾ percent.\n- The outlook is surrounded by a high degree of uncertainty."
    },
    {
      "heading": "Fiscal and policy response",
      "content": "- Authorities used pre-pandemic fiscal buffers to finance support measures targeted at households, businesses, and the healthcare system.\n- Policy measures facilitated the reopening of the economy in conjunction with the vaccine rollout."
    },
    {
      "heading": "Financial sector and stability",
      "content": "- The financial system has remained stable through the COVID-19 shock."
    },
    {
      "heading": "Major themes and subjects covered",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- COVID-19\n- Economic and financial statistics\n- Economic sectors, including Tourism\n- External sector statistics\n- Health\n- Monetary policy\n- Public debt\n- International organization engagement\n\nInternational Monetary Fund. Malta: 2021 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Malta (September 17, 2021).\n\n---\n\n Content in this bundle\n\n- 1mltea2021001\n  - 1mltea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1mltea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 17, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513596983.002",
    "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.",
    "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.",
    "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.",
    "The financial system has remained stable through the COVID-19 shock.",
    "**1mltea2021001**"
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