European Parliament Library

Iceland :, Fourth Review under Stand-By Arrangement, Request for Waivers of Applicability, and Request for Establishment of Performance Criteria-Staff Report; Informational Annex; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland

Iceland has made considerable progress under an economic program supported by the Stand-By Arrangement (SBA). Successful implementation of fiscal adjustment, effective use of capital controls, and financial sector restructuring have underpinned the recovery. Executive Directors emphasized that Iceland should continue to build up its stock of international reserves. They welcomed the new framework for corporate debt restructuring, passage of the 2011 budget, and the agreement on Icesave dispute. The IMF Board appreciated efforts in achieving program targets and granted a waiver for maintaining the economic growth of the country
Table Of Contents
Cover; Contents; I. Recent Economic Developments; II. Outlook; III. Policy Discussions; Boxes; 1. Icesave Agreement--Impact on Debt; A. Private Sector Debt Restructuring; 2. Office of the Debtor's Ombudsman; B. Fiscal Policy; C. Monetary Policy and Capital Controls; D. Financial Sector Policies; E. Program Modalities; IV. Staff Appraisal; Figures; 1. Recent Developments in Demand and Labor; 2. Price and Exchange Rate Developments; 3. Financial and Asset Markets Developments; 4. Macroeconomic Outlook Compared to the Original Program and Other Crisis Cases; 5. Fiscal Performance
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (82 p.)
Specific Material Designation
Form Of Item

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