Iceland: 2014 Article IV Consultation and Fifth Post-Program Monitoring Discussions-Staff Report; Press Release; and Statement by the Executive Director for Iceland

International Monetary Fund

No 2015/072, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2014 Article IV Consultation highlights that Iceland has reached a relatively strong macroeconomic position with good growth prospects. Unemployment continues to trend down, now at 4 percent. Growth is expected to pick up to about 3 percent over 2015–17, supported by robust domestic demand and tourism. Consumption will be boosted by household debt relief and—together with net trade—will benefit from favorable commodity prices. Good progress has also been made in improving the financial stability framework, but gaps remain.

Keywords: ISCR; CR; inflation expectation; balance of payments; crisis legacy; liberalization strategy; IMF staff projection; central bank; Capital account liberalization; Inflation; Income; Global; Europe (search for similar items in EconPapers)
Pages: 67
Date: 2015-03-13
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