Iceland: Staff Report for the 2012 Article IV Consultation and First Post- Program Monitoring Discussion

International Monetary Fund

No 2012/089, IMF Staff Country Reports from International Monetary Fund

Abstract: The 2012 Article IV Consultation reports that Iceland’s fiscal consolidation is continuing, but at a slower pace. Moderate expenditure overruns materialized in 2011, which will partly spill over to 2012 and the medium term. A key priority is to put the medium-term fiscal path back on track, which can be achieved with additional fiscal measures of ½ percent of GDP. Lifting the capital controls remains an overarching policy challenge, given the significant locked-in funds.

Keywords: ISCR; CR; inflation outlook; inflation expectation; FDI route; anchor inflation expectation; monetary policy committee; pushed inflation; Capital controls; Loans; Income; Global; Europe (search for similar items in EconPapers)
Pages: 69
Date: 2012-04-12
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25853 (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:2012/089

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 ().