Thu. Oct 10th, 2024

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Ireland: IMF Staff Concluding Statement for the 2023 Article IV Consultation Mission

Ireland’s economy has shown remarkable resilience in the face of recent consecutive shocks, achieving one of the highest growth rates in the euro area in 2021-22. Growth is projected to moderate in 2023-24 albeit remaining solid. Inflation is expected to ease further. The fiscal position has strengthened considerably on the back of strong tax revenues, but the headline numbers mask some underlying vulnerabilities.

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Switzerland: First roundtable on cash

On 30 October 2023, the Federal Finance Administration, together with the Swiss National Bank (SNB), held the first cash roundtable. Various issues concerning access to cash and the acceptance of cash were discussed with representatives of the stakeholders involved in the cash cycle. As part of this, they took stock of the situation and possible problems. The aim of the cash roundtable is to identify any need for action at

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Albania: IMF staff concluding statement of the 2023 Article IV Mission

The Albanian economy has emerged as one of the stronger performers in the region. Thanks to a strong rebound in tourism, growth last year beat expectations at close to 5 percent, while the external position saw a notable improvement. A combination of fiscal consolidation, higher income, and lek appreciation brought the public debt ratio back to pre-pandemic levels. Monetary policy is rightly focused on reducing inflation, which has been gradually

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European Council conclusions, 26 and 27 October 2023

The European Council reiterates its resolute condemnation of Russia’s war of aggression
against Ukraine, which constitutes a manifest violation of the UN Charter, and reaffirms the
European Union’s unwavering support for Ukraine’s independence, sovereignty and territorial
integrity within its internationally recognised borders and its inherent right of self-defence
against the Russian aggression.

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Inflation: EIOPA analyses impact on insurers and assesses future risks

How does the current inflationary environment impact insurers in Europe? The European Insurance and Occupational Pensions Authority (EIOPA) published an analysis considering the effects higher-than-expected inflation and interest rates have had on the insurance sector. EIOPA also looks ahead to assess potential future risks and vulnerabilities.

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OECD recommends Spain boost productivity and youth opportunities

Strong government support to businesses and households has helped Spain weather the effects of the COVID-19 pandemic, and of rising energy and food prices brought by Russia’s war of aggression against Ukraine. Policy should now focus on rebuilding fiscal space, raising productivity and reducing social disparities, including by creating more opportunities for young people.

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