The International Monetary Fund (IMF) has published its final Country Report in relation to its Article IV consultation with Austria. The material outcomes of the consultation were already communicated at a Press Conference on 01 March 2024. Overall the report gives Austria a favourable appraisal. Regarding the financial market, it highlights the resilience of the Austrian financial system. At the same time, the IMF recommends increased vigilance to the currently prevailing risk situation, especially with regard to risks regarding commercial and residential real estate. In this context, the IMF suggests improving the data situation for supervision in the commercial immovable property sector, and to permanently implement borrower-based ratios as a structural minimum standard for granting of credit. Additionally, banks should use their positive profit situation, in order to increase their risk buffers as well as for investing in improved cybersecurity.
Within the scope of its Article IV missions , the IMF holds meetings annually with its member nations about the economic situation. The IMF’s full concluding statement and other documents can be found at the following link: IWF Staff Report Austria May 2024 (pdf, 1.1 MB, English)