Iceland: Selected Issues Paper
Electronic Access:
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Summary:
In this study, during 2008, the financial crisis lead Iceland’s public debt to soar from under 30 percent of GDP to more than 100 percent of GDP, and while underlying external debt came down sharply, it remains elevated at close to 300 percent of GDP. First, external sustainability is overviewed, and second, growth of Iceland’s economy has been challenged, and finally, fiscal adjustments and its macroeconomic impacts are overviewed. Traditional external debt sustainability analysis (DSA) suggests that Iceland’s external debt is sustainable but is vulnerable to depreciation shock.
Series:
Country Report No. 2010/304
Subject:
Export performance Exports External debt Fiscal consolidation Fiscal policy International trade Public debt
English
Publication Date:
October 4, 2010
ISBN/ISSN:
9781455208548/1934-7685
Stock No:
1ISLEA2010003
Pages:
55
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