The International Monetary Fund (IMF) regularly analyses and evaluates the economic and fiscal policies of its member states based on Article IV of the IMF’s Articles of Agreement. This year’s Article IV consultation with Germany was carried out from 4 to 15 May 2017. The IMF’s provisional conclusions were presented to the press in Berlin on 15 May 2017.

Germany’s current account surplus has been garnering criticism for years. Taking on this criticism coming from home and abroad the Ministry of Finance and the Ministry of Economic Affairs published a joint position paper that explains the reasons behind Germany’s current account surplus and outlines the fiscal and economic policy options.

The G7 countries attach great importance to cyber security in the financial sector. Therefore, minimum standards for cyber security in the financial services sector should be designed to protect consumers, institutions, data and infrastructure.

Preliminary findings from a report commissioned by the German Finance Ministry confirm: climate risks have the potential to affect financial markets. Making an orderly transition to climate-friendly investments would help to maintain the efficiency and stability of Germany’s financial markets. Conversely, abrupt carbon divestment could jeopardise the stability of financial markets.

In an article for the Frankfurter Allgemeine Zeitung, published on 17 December 2015, Finance Minister Wolfgang Schäuble writes about the stabilisation of the financial system over the last seven years following the collapse of Lehman Brothers in 2008. The minister cautions, however, that “serious risks persist that may lead to excessive market volatility.”