Iceland: Sixth Post-Program Monitoring Discussions

June 26, 2015

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Iceland: Sixth Post-Program Monitoring Discussions, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This paper discusses the recommendations of the Sixth Post-program Monitoring Discussions with Iceland. Iceland recently updated its capital account liberalization strategy. The strategy takes a staged approach, starting with steps to address the balance-of-payments overhang of the old bank estates—prioritizing a cooperative approach with incentives—in a manner consistent with maintaining stability. Growth is accelerating in 2015 and is expected to reach 4.1 percent, backed by significant investment, wage- and debt relief-fueled consumption, and booming tourism. The general government is projected to record a surplus of 0.8 percent of GDP in 2015, helped by large one-offs. Small deficits are also expected over 2016–20.

Subject: Balance of payments, Capital account liberalization, Expenditure, Fiscal policy, Gender, Gender budgeting, Income, Labor, National accounts, Wages

Keywords: Anchor inflation expectation, Capital account liberalization, Capital account liberalization strategy, CR, Gender budgeting, Global, Income, Inflation expectation, ISCR, Liberalization, Liberalization strategy, Net export, Wage agreement, Wages

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/160
Stock No:

1ISLEA2015003
ISBN:

9781513570433
ISSN:

1934-7685

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