Iceland: Selected Issues Paper

April 12, 2012

Preview Citation

Format: Chicago

Iceland: Selected Issues Paper, (USA: International Monetary Fund, 2012) accessed December 23, 2024

Summary

This selected issues paper on Iceland reports that since mid-2009, Iceland has undergone a heavily frontloaded fiscal consolidation program to bring government finances to a sustainable level. To maintain the adjustment gains achieved during the last 2½ years, the authorities have started drafting a new organic budget law, which would codify recent reforms in the budget framework and introduce principles for fiscal policymaking. Iceland’s economy is exposed to adverse shocks. The external outlook continues to pose challenges, as key trading partners face weak growth prospects.

Subject: Expenditure, Fiscal policy, Fiscal stance, Inflation, Inflation targeting, Monetary policy, Output gap, Prices, Production

Keywords: CR, Europe, Exchange rate, Expenditure growth, Fiscal stance, Global, Growth limit, Inflation, Inflation expectation, Inflation targeting, Inflation targeting framework, ISCR, Monetary policy, Monetary policy framework, Output gap

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/090
Stock No:

1ISLEA2012003
ISBN:

9781475503128
ISSN:

1934-7685

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