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Republic of San Marino : 2019 Article IV Consultation
Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino

Series:Country Report No. 19/85
ISBN 9781498304887
Code: #1SMREA2019001

Publication year: 2019

Cdn: $25.00; US: $18.00
Language: English
61 pages
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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. The central bank of San Marino (CBSM) and government liquidity buffers are low, and a full and upfront recognition of the state’s excessive commitments to the banking system would make public debt unsustainable. A comprehensive strategy is urgently needed to shift the economy to a sustainable growth path.
Republic of San Marino : 2019 Article IV Consultation
Cdn: $25.00; US: $18.00
International Monetary Fund (IMF) BookID: 124759 Added: 2019.4.6