This is important, tireless work and much remains to be done. 2  BIS Review 167/2009  With respect to new lending, data collected under the Home Mortgage Disclosure Act (HMDA) for 2008 tell the story of a fractured market for housing finance as private mortgage lending came to a standstill and new lending depended heavily on government support.
As of 2024 their contribution is expected to turn out mildly positive, consistent with the expected recovery of external demand and the effects of new investment in export-oriented sectors. The current account deficit amounted to 6.9% of GDP in 2022 and was by around 2 pp lower compared to our November projection.