Malta’s economy remains strong with an appropriate balance between lowering public debt and sustaining economic growth, the International Monetary Fund has said, Maltanews reported. The IMF’s executive board commended local authorities for implementing “sound macroeconomic policies”, saying these had contributed to “strong economic performance, robust job creation, low unemployment, and improved public finances.” They noted that Malta’s economy was one of the fastest-growing in Europe and that the country’s banking system remained well-capitalized and liquid, “well above the levels seen in European peers”. The IMF’s appraisal came at the end of its latest consultation with Malta, known as an Article IV consultation. As part of an Article IV consultation, a team of IMF economists visits a country to assess its economic and financial developments and meets with key stakeholders from politics, business, unions and civil society. In its executive summary, the IMF noted that as a small and open economy, authorities should continue to strengthen competitiveness and bolster Malta’s economic resilience to shocks.
