Iceland: Selected Issues Paper

October 4, 2010

Preview Citation

Format: Chicago

Iceland: Selected Issues Paper, (USA: International Monetary Fund, 2010) accessed November 22, 2024

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.

Subject: Export performance, Exports, External debt, Fiscal consolidation, Fiscal policy, International trade, Public debt

Keywords: Asset, Asset volatility, CR, Debt, Export performance, Export products, Exports, Fiscal consolidation, GDP, GDP growth, Global, Growth challenge, Herfindahl-Hirschmann export product concentration index, ISCR, Model simulation

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/304
Stock No:

1ISLEA2010003
ISBN:

9781455208548
ISSN:

1934-7685

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