IMF Staff Country Reports

Australia: Staff Report for the 2011 Article IV Consultation

Publication Date:

October 6, 2011

Electronic Access:

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Summary:

In this study, Australia’s economic performance from the onset of the global financial crisis is discussed. A healthy banking system, flexible exchange rate, and robust demand for commodities from Asia are important for good performance. Although recent global market volatility has increased uncertainty about the economic outlook and tilted risks downward, strong commodity demand from emerging Asia underpins Australia’s favorable economic prospects. The importance of tax and structural reforms is emphasized. The Australian Prudential Regulation Authority’s plans are used to undertake stress tests incorporating disruptions to funding markets.

Series:

Country Report No. 2011/300

Subject:

Banking Current account deficits External debt Housing prices Income International trade National accounts Prices Public debt Terms of trade