Iceland: Staff Report for the 2003 Article IV Consultation

August 29, 2003

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Format: Chicago

Iceland: Staff Report for the 2003 Article IV Consultation, (USA: International Monetary Fund, 2003) accessed November 26, 2024

Summary

Rapid growth during the second half of the 1990s led to overheating and the emergence of financial vulnerabilities by the end of the decade. Over the medium term, investment projects will impart a significant impetus to economic activity, and output will grow for some years above its long-term trend pace. There are, however, significant upside risks to this medium-term central scenario. Executive Directors supported the authorities' view that macroeconomic policies would have to remain restrictive to counteract the expected demand pressures over the medium term.

Subject: Balance of payments, Banking, Current account deficits, Exports, External debt, Financial Sector Assessment Program, Imports, Income, International trade, National accounts

Keywords: CR, Current account deficits, Debt, Debt ratio, Exchange rate, Exports, Foreign currency, Global, Imports, Income, Inflation-targeting monetary policy framework, Investment, Investment boom, Investment project, ISCR, Net government debt, Private sector, Privatization program, Treasury budget

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/266
Stock No:

1ISLEA0012003
ISBN:

9781451819243
ISSN:

1934-7685

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