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IMF Preliminary Annual Report on the Netherlands
On November 2 the preliminary findings of IMF staff visit to the Netherlands was published on the IMF website. These are reports made at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments. The report outlines the economic situation, outlook and risks.
Kingdom of the Netherlands—The Netherlands 2009 Article IV Consultation: Preliminary Conclusions
November 2, 2009
We expect growth, albeit sluggish, to resume in 2010. The outlook hinges critically on global developments and domestic policies to support aggregate demand and address financial weaknesses. Risks appear broadly balanced. Where needed, efforts to resolve troubled assets and institutions and strengthen bank capital should be continued to nurture recuperation of the financial sector. Budgetary stimulus in 2009-10 is appropriate, but a strong and credible commitment to fiscal sustainability is crucial; consolidation could begin in 2011, provided a firm recovery is underway. Renewed momentum is called for with structural reforms.
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