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

International Monetary Fund

No 2021/211, IMF Staff Country Reports from International Monetary Fund

Abstract: The fallout from the COVID-19 crisis has hit the Maltese economy hard, particularly its large tourism sector. Using fiscal buffers accumulated prior to the pandemic, the authorities have taken swift actions to support households, businesses, and the healthcare system. With the rapid rollout of COVID-19 vaccine, the economy has reopened for the summer tourism season. While the outlook is surrounded by a high degree of uncertainty, the Maltese economy is expected to rebound by 5¾ percent this year, up from -7¾ percent in 2020. The financial system has remained stable. In late June 2021, the Financial Action Task Force (FATF) put Malta under increased monitoring due to concerns about effectiveness of its anti-money laundering and combatting the financing of terrorism (AML/CFT) framework.

Keywords: stimulus measure; policy direction; SDDS preparation; liability positions vis-à-vis nonresident; pandemic crisis; per-capita emissions level; money market rate; IMF staff calculation; Anti-money laundering and combating the financing of terrorism (AML/CFT); COVID-19; External sector statistics; Tourism; Global (search for similar items in EconPapers)
Pages: 71
Date: 2021-09-17
New Economics Papers: this item is included in nep-mac
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