Singapore : 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Singapore

1SGPEA2009002 Image
Price:  $18.00

Release Date: © August, 2009
ISBN : 978-1-45183-430-7
Stock #: 1SGPEA2009002
English
Stock Status: On back-order

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Description

This 2009 Article IV Consultation highlights that Singapore has been severely affected by the global downturn. The collapse in external demand has led to a sharp contraction in GDP, which fell by almost 13 percent in the first quarter of 2009. Executive Directors have observed that the floating exchange rate regime has served Singapore well, and that the exchange-rate centered monetary policy framework has been an important source of stability in times of turbulence. They have commended the authorities for proactively implementing a series of measures to safeguard the stability of the financial system.

Taxonomy

Economic policy , Exchange rate policy , Financial crisis , Financial institutions and markets , Fiscal policy , Foreign exchange , Insurance , International financial system , Monetary policy




More publications in this series: IMF Staff Country Reports