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International Monetary Fund

On behalf of our Swiss authorities, we would like to thank the staff for once more putting together a substantive and helpful report. The authorities welcome the candid policy recommendations, which add considerable value to domestic policy discussions. In most respects, they share the staff’s appraisal of the challenges going forward. The authorities also value the emphasis the report puts on the risks to the economic outlook, and they appreciate the risk matrix. They believe this report is a good example of the progress being made in improving risk