European Parliament Library

Iceland :, 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Iceland

Iceland’s 2008 Article IV Consultation shows that the long expansion is coming to an end, exposing the economy’s overstretched private sector balance sheets, large macroeconomic imbalances, and high dependence on foreign financing. With external liquidity constraints binding, economic activity is expected to slow significantly from unsustainably high levels, inflation to remain well above target, and the current account to narrow. Uncertainty surrounding the outlook is unusually large, dominated by significant downside risks, both external and domestic
Table Of Contents
Cover; Contents; I. Introduction; Boxes; 1. Background: Origins of the Long Boom; II. Report on the Discussions; A. Outlook and Risks; 2. Real-Financial Linkages: Up Together, Down Together; B. External Stability; 3. External Stability from an Exchange Rate Perspective; C. Monetary Policy; D. Fiscal Policy; E. Financial Sector Policy; F. Contingency Planning; III. Staff Appraisal; Figures; 1. Iceland's Strong Economic Performance; 2. Private Consumption Sustained the Long Boom; 3. Inflation is High and Expectations are Unhinged; 4. Banking Sector Indicators; Tables
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (55 p.)
Specific Material Designation
Form Of Item

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