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Books and Analytical Papers > IMF Staff Country Reports

You are looking at 1 - 10 of 138 items for :

  • Type: Journal Issue x
  • Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure x
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Cover IMF Staff Country Reports
Republic of Croatia: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper explains corporate sector balance sheet vulnerabilities in Croatia. It serves as a background analysis to the systemic risk assessment presented in the staff report and follows established approaches to stress-test the corporate sector. Croatian firms have significantly improved their balance sheets since the prolonged recession after the Global Financial Crisis, helped by deleveraging and narrowing country risk premium as Croatia advanced its euro adoption agenda. The calibration of shocks follows the macro-financial scenarios of the 2023 EU-wide banking sector stress tests by the European Banking Authority. Micro-level simulations confirm the resilience of the corporate sector against adverse shocks to profitability and financing costs. The well-capitalized banking sector overall is also found to have buffers to absorb negative spillovers from the corporate sector. The simulated results suggest that shocks to nonfinancial corporations (NFC) could significantly raise banks’ nonperforming loans. The declining borrowing costs and improving financial strength of NFCs in Croatia point to the need to examine both financing and nonfinancing related obstacles.
Keywords:
B. housing affordability assessment; housing cost indicator; policy option; taxation of housing; NFC balance sheet strength; Housing; Labor shortages; Corporate sector; Housing prices; Labor markets; Global; Eastern Europe; Europe
Cover IMF Staff Country Reports
Canada: 2024 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.