Iceland: Staff Report for the 2012 Article IV Consultation and First Post- Program Monitoring Discussion

April 12, 2012

Preview Citation

Format: Chicago

Iceland: Staff Report for the 2012 Article IV Consultation and First Post- Program Monitoring Discussion, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

The 2012 Article IV Consultation reports that Iceland’s fiscal consolidation is continuing, but at a slower pace. Moderate expenditure overruns materialized in 2011, which will partly spill over to 2012 and the medium term. A key priority is to put the medium-term fiscal path back on track, which can be achieved with additional fiscal measures of ½ percent of GDP. Lifting the capital controls remains an overarching policy challenge, given the significant locked-in funds.

Subject: Balance of payments, Banking, Capital controls, External debt, Financial institutions, Fiscal stance, Income, Loans, National accounts, Public debt

Keywords: Anchor inflation expectation, Capital controls, CR, Europe, FDI route, Global, Income, Inflation expectation, Inflation outlook, ISCR, Loans, Monetary policy committee, Pushed inflation

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/089
Stock No:

1ISLEA2012002
ISBN:

9781475503111
ISSN:

1934-7685

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