FROM THE OFFICE OF PUBLIC AFFAIRS

The Treasury Department is releasing today the concluding statement by the staff of the International Monetary Fund following this year’s Article IV Consultation with the United States. This statement represents IMF staff’s independent judgement and assessment of U.S. economic performance and policies.

In its statement, IMF staff highlights the resiliency of the U.S. economy over the past year and notes that the economic outlook appears broadly favorable. The statement highlights the fact that "timely fiscal and monetary policy stimulus in 2001, as well as continued productivity gains, have contributed to an unusually mild downturn." As a result, the IMF asserts that the key policy challenges for the United States "have shifted from short term stabilization to strengthening the base for strong and durable growth."

Release of this statement is consistent with the United States' longstanding, strong support for enhanced transparency of the IMF. The United States also plans to release the IMF staff report and Public Information Notice on the U.S. Article IV review following the Executive Board’s discussion of the mission later this summer.