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200301 ||| eng |
| 020 |
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|a 9781498304887
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| 245 |
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|a Republic of San Marino
|b 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2019
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| 300 |
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|a 61 pages
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| 651 |
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4 |
|a San Marino, Republic of
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Revenue administration
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| 653 |
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|a Commercial banks
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| 653 |
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|a Public debt
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Banks and banking
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| 653 |
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|a Taxes
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| 653 |
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|a Financial institutions
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| 653 |
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|a Debt Management
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Debts, Public
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| 653 |
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|a Computer Programs: Other
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| 653 |
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|a Debt
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| 653 |
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|a Data Collection and Data Estimation Methodology
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| 653 |
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|a Mortgages
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| 653 |
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|a Nonperforming loans
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Loans
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| 653 |
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|a Taxation, Subsidies, and Revenue: General
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| 653 |
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|a Tax allowances
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Personal Finance -Taxation
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Banking
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| 653 |
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|a Statistics
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| 653 |
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|a Personal Income and Other Nonbusiness Taxes and Subsidies
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| 653 |
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|a Econometrics & economic statistics
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| 653 |
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|a Public Finance
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| 653 |
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|a Income tax
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| 710 |
2 |
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|a International Monetary Fund
|b European Dept
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Staff Country Reports
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| 028 |
5 |
0 |
|a 10.5089/9781498304887.002
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/002/2019/085/002.2019.issue-085-en.xml?cid=46705-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This Article IV Consultation highlights that deep-rooted weaknesses in the banking system have undermined economic activity and are now threatening financial stability and fiscal sustainability. Significant deposit outflows have left the banking system with low liquidity, while persistent losses and high non-performing loans (NPLs) resulted in sizable recapitalization needs, particularly in the state-owned bank. Growth is projected to remain subdued in the coming years, reflecting continued banking sector deleveraging and a less favorable external environment, most notably in Italy. Slow progress in repairing the banking sector, and full and upfront recognition of the state’s financial commitments to the banking system are the key risks. Urgent actions are needed to restore banking sector viability and credit supply, safeguard public finances, and promote sustained economic growth. It is recommended to strengthen labor supply by better targeting social benefits and further relaxing the hiring process of non-residents
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