Principality of Andorra: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Principality of Andorra

June 11, 2021

Preview Citation

Format: Chicago

Principality of Andorra: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Principality of Andorra, (USA: International Monetary Fund, 2021) accessed September 18, 2024

Summary

Andorra, the IMF’s newest member since October 2020, participated in its first Article IV consultation with a commitment to further enhance transparency. Tourism and banking-related services dominate economic activity in the euroized economy. The country enjoys long-standing political stability, a good track-record of fiscal discipline, a gender-balanced work force, and internationally competitive ski resorts. The authorities are managing the pandemic well with universal testing and expanded hospital capacity that kept fatality rates very low despite high case-loads. The testing strategy helped Andorra implement more targeted internal restrictions than in neighboring countries. At the same time, emergency fiscal measures stabilized real incomes and supported firms.

Subject: COVID-19, Expenditure, Financial institutions, Health, Income, International organization, Monetary policy, National accounts, Nonperforming loans, Public debt, Public investment spending

Keywords: AFA team, Andorran authorities, Anti-money laundering framework, Authorities' desire, COVID-19, Europe, General government debt, General management, Income, Money market rate, Mountain ecosystem, Nonperforming loans, Public investment spending

Publication Details

Pages:

51
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/107
Stock No:

1ANDEA2021001
ISBN:

9781513573151
ISSN:

1934-7685

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