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Belgium : 2010 Article IV consultation : staff report, staff supplement, and a public information notice on the Executive Board discussion

Author: International Monetary Fund.
Publisher: Washington, D.C. : International Monetary Fund, ©2011.
Series: IMF country report, no. 11/81.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
1. Belgium is going through a prolonged political impasse resulting from persistent regional tensions. The federal government of Prime Minister Leterme fell in April 2010 over long-standing disagreements on how to reform the bilingual electoral district of Brussels-Halle-Vilvoorde. Following early elections in June 2010, negotiations to form a new federal government led by the two largest parties (the New-Flemish  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
International Monetary Fund.
Belgium : 2010 article iv consultation, staff report, staff supplement, and a public information notice on the Executive Board discussion.
Washington, District of Columbia : International Monetary Fund, ©2011
52 pages
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund.
ISBN: 1283554054 9781283554053 9781462390922 1462390927 9781455233076 1455233072 9781455233090 1455233099
ISSN:2227-8907
OCLC Number: 739919030
Description: 1 online resource (52 pages).
Contents: Cover; Contents; I. Political Gridlock Amid Financial Turbulence; Boxes; 1. Complex Political Fault Lines; II. Gradual Recovery with Challenging Outlook; A. The Recovery Continued in 2010; B. Outlook and Risks; 2. Why is Belgian Inflation Sensitive to Energy Prices?; Figures; 1. Developments in Growth and Demand, 2000-10; 2. Developments in Inflation and Unemployment, 2000-10; C. External Developments and Competitiveness; III. Policy Challenges; A. Fiscal Policy: Achieving Successful Fiscal Consolidation; 3. Public Debt Sustainability: Bound Tests; 3. Fiscal Federalism in Belgium. B. The Financial System: Continued Restructuring to Improve Resiliency4. Recent Developments in the Financial Sector; 5. Bank Lending Survey; 6. Credit Developments; C. Structural Reforms: Promoting Growth; 4. Why is Labor Market Performance Better in the Netherlands?; 5. Why are Labor Costs so High in Belgium?; 7. Labor Market Indicators; IV. Staff Appraisal; 8. Financial Indicators Overview; Tables; 1. Selected Economic Indicators, 2006-15; 2. Balance of Payments, 2006-15; 3. Fiscal Scenarios, 2006-15; 4. Public Sector Sustainability Framework, 2006-15; 5. Key Financial Market Indicators. 6. Financial Soundness Indicators of the Banking Sector, 2003-107. Financial Soundness Indicators of the Non-Banking Sectors, 2003-10; Annexes; I. Recent Developments on the Restructuring of Main Belgian Banks; II. Belgium Bank Resolution Framework and Changes Introduced by the Financial Crisis Law of June 2, 2010; Contents; I. Fund Relations; II. Statistical Issues.
Series Title: IMF country report, no. 11/81.
Other Titles: Belgium, 2010 Article IV consultation
Responsibility: prepared by the staff representatives for the 2010 consultation with Belgium.
More information:

Abstract:

1. Belgium is going through a prolonged political impasse resulting from persistent regional tensions. The federal government of Prime Minister Leterme fell in April 2010 over long-standing disagreements on how to reform the bilingual electoral district of Brussels-Halle-Vilvoorde. Following early elections in June 2010, negotiations to form a new federal government led by the two largest parties (the New-Flemish Alliance and the francophone Socialist Party) faltered, reflecting inter alia divergent views on further fiscal devolution to be imbedded in another reform of the state (Box 1). Subsequent efforts by the mediator appointed by the King in October to work out a framework for negotiations on a new government program fell through in January 2011. Since then, a new round of talks aims at lifting the political deadlock. While these efforts signal continued willingness to form a federal government, new federal elections cannot be excluded.

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