Iceland: Staff Report for the 2002 Article IV Consultation

July 3, 2002

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Iceland: Staff Report for the 2002 Article IV Consultation, (USA: International Monetary Fund, 2002) accessed November 27, 2024

Summary

This 2002 Article IV Consultation highlights that the economic developments in Iceland since early 2001 have been characterized by progress in the correction of some of the imbalances. As sentiment turned, the currency depreciated sharply and growth in economic activity decelerated from 5½ percent in 2000 to 3 percent in 2001—bringing it closer to its long-term sustainable pace. The balance of demand switched swiftly from consumption and other domestic expenditure to net exports and, as a result, the current account deficit fell to about 4½ percent of GDP.

Subject: Balance of payments, Banking, Current account deficits, External debt, Financial institutions, Inflation, Loans, Prices, Public debt

Keywords: CR, Current account deficits, Current account reversal, Exchange rate, Global, Inflation, Inflation targeting, Inflation-targeting monetary policy regime, Introduced inflation-targeting framework, ISCR, Króna, Loans, Monetary policy, Shrinking current account deficit

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/130
Stock No:

1ISLEA0022002
ISBN:

9781451819267
ISSN:

1934-7685

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