Iceland : 2013 Article IV Consultations and Third Post-Program Monitoring Discussions

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

August 7, 2013

Electronic Access:

Free Full Text (PDF file size is 1832 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2013 Article IV Consultation highlights that Iceland’s economy is on a path to recovery, but legacy vulnerabilities are weighing on growth. GDP growth—which reached 2.9 percent in 2011—slowed to 1.6 percent in 2012 amid private sector deleveraging and weak external demand. Unemployment has continued to decline however, standing at 5.1 percent in May, down from a peak of 9.2 percent in September 2010. Inflation has come down to 3.3 percent in June from a peak of 18.6 in January 2009, but remains above the central bank’s target of 2½ percent. The outlook is for modest growth, declining inflation, and improving fiscal and external position.

Series:

Country Report No. 13/256

Subject:

English

Publication Date:

August 7, 2013

ISBN/ISSN:

9781475558401/1934-7685

Stock No:

1ISLEA201300

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

63

Please address any questions about this title to publications@imf.org