Iceland: Fourth Post-Program Monitoring Discussions

July 10, 2014

Preview Citation

Format: Chicago

Iceland: Fourth Post-Program Monitoring Discussions, (USA: International Monetary Fund, 2014) accessed December 23, 2024

Summary

This paper discusses Iceland’s Fourth Post-Program Monitoring Discussions. Iceland’s economy has grown strongly on the back of booming tourism. Real GDP grew 3.3 percent in 2013, despite a drop in investment spending. Net exports were the primary driver. High frequency indicators suggest strong net exports—including steady growth in off-season tourism—have continued in Q1 2014, along with rising private consumption. Inflation has fallen below the Central Bank of Iceland’s 2.5 percent target but long-term inflation expectations remain noticeably above this level. The government’s medium-term fiscal objectives deserve support, but further effort is needed to achieve them.

Subject: Asset and liability management, Balance of payments, Banking, Capital controls, Debt relief, External debt, Foreign exchange, Public debt

Keywords: BoP prospect, Capital controls, Central bank, CR, Debt relief, Foreign currency purchase, Global, Inflation expectation, ISCR, MPC, Pace of inventory accumulation, Staff appraisal

Publication Details

Pages:

63
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2014/194
Stock No:

1ISLEA2014001
ISBN:

9781498308106
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports