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Iceland: Selected Issues Paper

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  • International Monetary Fund

Abstract

This selected issues paper on Iceland reports that since mid-2009, Iceland has undergone a heavily frontloaded fiscal consolidation program to bring government finances to a sustainable level. To maintain the adjustment gains achieved during the last 2½ years, the authorities have started drafting a new organic budget law, which would codify recent reforms in the budget framework and introduce principles for fiscal policymaking. Iceland’s economy is exposed to adverse shocks. The external outlook continues to pose challenges, as key trading partners face weak growth prospects.

Suggested Citation

  • International Monetary Fund, 2012. "Iceland: Selected Issues Paper," IMF Staff Country Reports 2012/090, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/090
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    References listed on IDEAS

    as
    1. Willem H. Buiter, 2000. "Is Iceland an Optimal Currency Area?," Economics wp10, Department of Economics, Central bank of Iceland.
    2. Francis Breedon & Thórarinn Pétursson & Andrew Rose, 2012. "Exchange Rate Policy in Small Rich Economies," Open Economies Review, Springer, vol. 23(3), pages 421-445, July.
    3. Jonathan D. Ostry, 2012. "Managing Capital Flows: What Tools to Use?," Asian Development Review (ADR), World Scientific Publishing Co. Pte. Ltd., vol. 29(01), pages 82-88, June.
    4. Francis Breedon & Thórarinn Pétursson & Andrew Rose, 2012. "Exchange Rate Policy in Small Rich Economies," Open Economies Review, Springer, vol. 23(3), pages 421-445, July.
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