Iceland: 2018 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Iceland

November 14, 2018

Preview Citation

Format: Chicago

Iceland: 2018 Article IV Consultation-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Iceland, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

Iceland is experiencing an economic slowdown that has reduced overheating concerns. Tourism growth has decelerated and the króna has stopped appreciating. Demand management has become easier, allowing the authorities to focus on medium-term priorities, including infrastructure, healthcare, education, and the environment. Risks, however, have become more evident. High fuel prices and other factors are challenging the airline business; world trade tensions are escalating; and the United Kingdom—a vital trading partner—is not yet assured of a smooth EU exit. Icelandic policies thus need to focus on further increasing resilience to shocks.

Subject: Balance of payments, Banking, Current account surpluses, Economic and financial statistics, Financial regulation and supervision, Fiscal policy, Fiscal stance, Government finance statistics, Income, National accounts

Keywords: Baseline rojections, Competition authority, CR, Current account surpluses, Europe, Fiscal stance, Foreign currency, Global, Government finance statistics, IMF staff projection, Income, Increase government investment, ISCR, Liability positions vis-à-vis nonresident, Staff appraisal, Tourism growth

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/318
Stock No:

1ISLEA2018001
ISBN:

9781484384749
ISSN:

1934-7685

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