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Iceland: Fourth Post-Program Monitoring Discussions

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  • International Monetary Fund

Abstract

This paper discusses Iceland’s Fourth Post-Program Monitoring Discussions. Iceland’s economy has grown strongly on the back of booming tourism. Real GDP grew 3.3 percent in 2013, despite a drop in investment spending. Net exports were the primary driver. High frequency indicators suggest strong net exports—including steady growth in off-season tourism—have continued in Q1 2014, along with rising private consumption. Inflation has fallen below the Central Bank of Iceland’s 2.5 percent target but long-term inflation expectations remain noticeably above this level. The government’s medium-term fiscal objectives deserve support, but further effort is needed to achieve them.

Suggested Citation

  • International Monetary Fund, 2014. "Iceland: Fourth Post-Program Monitoring Discussions," IMF Staff Country Reports 2014/194, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2014/194
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=41735
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