European Parliament Library

Iceland :, Stand-By Arrangement: Interim Review Under the Emergency Financing Mechanism

Abstract
This paper describes the Stand-By Arrangement for Iceland under the Emergency Financing Mechanism. The crisis is producing a sharp contraction of economic activity. Indicators of consumption are plummeting, and the deterioration in the labor market is accelerating, with rising unemployment and falling real wages contributing to a considerable contraction in real incomes. Significant import compression is under way, allowing a sustained turnaround in the trade balance, as exports continue to benefit from a weaker króna. The króna interbank market is inactive, and equity markets remain under pressure with trade being thin
Table Of Contents
Cover; Iceland: Stand-By Arrangement-Interim Review Under the Emergency Financing Mechanism; I.INTRODUCTION; II. RECENT DEVELOPMENTS AND OUTLOOK; III. POLICY IMPLEMENTATION; A. Monetary and Exchange Rate Policy; B. Fiscal Policy; C. Financial Sector Policy; D. External Financing; IV. STAFF APPRAISAL
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (22 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451882278

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