Implementation of the Macroeconomic Imbalance Procedure: State of play January 2022

This note presents the EU Member States' situation with respect to the Macroeconomic Imbalance Procedure (MIP), taking into account the most recent assessments and decisions by the European Commission and the Council. It presents the relations between the MIP and the Recovery and Resilience Facility, and the MIP in the context of the review of the EU economic governance. It also gives an overview of relevant positions taken on the MIP by EU institutions. A separate EGOV note summarises the Macroeconomic Imbalance Procedure. This document is the updated version of a previous one.