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Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland

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  • International Monetary Fund

Abstract

Owing to the high dependence of its exports on countries and commodities, Finland experienced the worst recession in the euro area. Executive Directors encouraged authorities to focus on improving bank cost efficiency, preventing excessive risk taking, and limiting liquidity and funding risks. Directors welcomed the establishment of the Nordic-Baltic Stability Group, and stressed the need to strengthen the effectiveness of cross-border supervision and crisis management arrangements. Directors welcomed structural reforms and also emphasized the need of a strong fiscal consolidation to secure fiscal sustainability.

Suggested Citation

  • International Monetary Fund, 2010. "Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland," IMF Staff Country Reports 2010/273, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/273
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    References listed on IDEAS

    as
    1. Mr. Subir Lall & Mr. Roberto Cardarelli & Mr. Selim A Elekdag, 2009. "Financial Stress, Downturns, and Recoveries," IMF Working Papers 2009/100, International Monetary Fund.
    2. Mr. Stephan Danninger & Ms. Irina Tytell & Mr. Ravi Balakrishnan & Mr. Selim A Elekdag, 2009. "The Transmission of Financial Stress from Advanced to Emerging Economies," IMF Working Papers 2009/133, International Monetary Fund.
    3. repec:zbw:bofrdp:2010_005 is not listed on IDEAS
    4. Freystätter, Hanna, 2010. "Financial market disturbances as sources of business cycle fluctuations in Finland," Research Discussion Papers 5/2010, Bank of Finland.
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