Iceland: Sixth Post-Program Monitoring Discussions
International Monetary Fund
No 2015/160, IMF Staff Country Reports from International Monetary Fund
Abstract:
This paper discusses the recommendations of the Sixth Post-program Monitoring Discussions with Iceland. Iceland recently updated its capital account liberalization strategy. The strategy takes a staged approach, starting with steps to address the balance-of-payments overhang of the old bank estates—prioritizing a cooperative approach with incentives—in a manner consistent with maintaining stability. Growth is accelerating in 2015 and is expected to reach 4.1 percent, backed by significant investment, wage- and debt relief-fueled consumption, and booming tourism. The general government is projected to record a surplus of 0.8 percent of GDP in 2015, helped by large one-offs. Small deficits are also expected over 2016–20.
Keywords: ISCR; CR; inflation expectation; liberalization; liberalization strategy; capital account liberalization strategy; anchor inflation expectation; wage agreement; net export; Capital account liberalization; Wages; Income; Gender budgeting; Global (search for similar items in EconPapers)
Pages: 65
Date: 2015-06-26
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=43028 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2015/160
Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm
Access Statistics for this paper
More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().