Germany:2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany
2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany
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Volume/Issue:
Volume 2021
Issue 013
Publication date: January 2021
ISBN: 9781513566733
$18.00
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Topics covered in this book
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Banks and Banking , Labor , ISCR , CR , policy support package , IMF staff calculation , money market rate , EU recovery package , health crisis
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Summary
Germany managed the first wave of the COVID-19 epidemic relatively well thanks to an early and vigorous public health response. Nonetheless, unprecedented disruptions to economic and social activity caused a deep recession in the first half of 2020. The gradual easing of containment measures since late-April has led to a partial revival of growth, but in late-October a “lockdown light” was announced to counter a new wave of infections, and restrictions were further tightened in mid-December. Significant risks remain about the pace and extent of the recovery as the uncertain course of the epidemic continues to impact economic activity.
