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Iceland: Sixth Post-Program Monitoring Discussions

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  • International Monetary Fund

Abstract

This paper discusses the recommendations of the Sixth Post-program Monitoring Discussions with Iceland. Iceland recently updated its capital account liberalization strategy. The strategy takes a staged approach, starting with steps to address the balance-of-payments overhang of the old bank estates—prioritizing a cooperative approach with incentives—in a manner consistent with maintaining stability. Growth is accelerating in 2015 and is expected to reach 4.1 percent, backed by significant investment, wage- and debt relief-fueled consumption, and booming tourism. The general government is projected to record a surplus of 0.8 percent of GDP in 2015, helped by large one-offs. Small deficits are also expected over 2016–20.

Suggested Citation

  • International Monetary Fund, 2015. "Iceland: Sixth Post-Program Monitoring Discussions," IMF Staff Country Reports 2015/160, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/160
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43028
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    Cited by:

    1. Kristín Helga Birgisdóttir & Stefán Hrafn Jónsson & Tinna Laufey Ásgeirsdóttir, 2017. "Economic conditions, hypertension, and cardiovascular disease: analysis of the Icelandic economic collapse," Health Economics Review, Springer, vol. 7(1), pages 1-21, December.

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