| Description |
1 online resource (44 pages) |
| Series |
IMF country report ; no. 11/78 |
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IMF country report ; no. 11/78.
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| Contents |
Cover; Contents; I. Context; II. Recent Economic Developments and Outlook; Figures; 1. Output Developments and Projections, 1999-2012; 2. Recent Economic Activity Indicators, 2007-10; 3. External Sector Indicators, 2000-10; 4. Labor Market Developments, 1990-2010; Boxes; 1. San Marinos Financial System in the Aftermath of Italy's Tax Amnesty; III. Policy Discussions; A. Financial Sector; 2. Actions taken to meet the 2009 FSAP recommendations; B. Fiscal Policy; 5. Fiscal Indicators, 1995-2011; 6. Central Government Debt Sustainability, 2005-15; 7. Pension Funds Projections, 2010-60 |
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C. Structural and Other Policy Issues3. Losing Competitiveness; IV. Staff Appraisal; Tables; 1. Selected Economic Indicators, 2005-11; 2. Financial Soundness Indicators, 2004-10; 3. Consolidated Balance Sheet of the Banking Sector, 2009-10; 4. Public Finances, 2006-11; 5. Central Government Debt Sustainability, 2005-15; Appendix I; 1. Action Taken in Response to FSAP Recommendations; Contents; I. Fund Relations; II. Statistical Issues |
| Summary |
1. The tax haven model - intensifying pressure to change. For years, the Sammarinese economy benefited from its tax haven and bank secrecy status. Banks were able to attract substantial deposits from abroad, helping to propel system assets to around 900 percent of GDP by end-2008, while boosting income and employment growth. However, under pressure from larger economies, tax havens around the world have been forced to embrace greater transparency. In this context, San Marino is currently undergoing a strategic review of its business model and has made some progress on enhancing financial transparency. Italy has added to the pressure by increasing its crackdown on tax havens. It launched a tax amnesty in September 2009 and, in July 2010, extended the impact of an earlier inclusion of San Marino on a 'blacklist' of tax haven countries, further straining relations between the two countries. 1 |
| Notes |
Online resource; title from PDF title page (IMF Web site, viewed June 28, 2011) |
| Subject |
International Monetary Fund -- San Marino
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International Monetary Fund |
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Economic indicators -- San Marino
|
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Economic history
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Economic indicators
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Economic policy
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San Marino -- Economic conditions
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San Marino -- Economic policy
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San Marino
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| Form |
Electronic book
|
| Author |
International Monetary Fund.
|
| ISBN |
1455229091 |
|
9781455229093 |
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128355626X |
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9781283556262 |
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9781462368723 |
|
1462368727 |
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9781455229116 |
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1455229113 |
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