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August 1, 2013
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Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 2.9 3
Consumer Prices 2.5 3.3
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Iceland: Financial Position in the Fund

Transactions with the Fund


IMF Resident Representative Office in Iceland

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Iceland and the IMF
Updated December 19, 2014

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IMF Survey Online
April 10, 2012 -- IMF Survey: Household Debt Holds Back Recoveries but Restructuring Can Help
The more households accumulate debt—mortgages, personal loans, and credit card debt—during a boom, the deeper the subsequent slump in the economy and the weaker the recovery, according to new IMF research published in the April 2012 World Economic Outlook.
November 03, 2011 -- IMF Survey: Iceland's Unorthodox Policies Suggest Alternative Way Out of Crisis
As policymakers continue to grapple with the problems facing the crisis-hit countries in the euro area and the clouded economic outlook for the global economy, attention has turned to Iceland, which three years ago saw its entire banking system crumble in just a few days.
October 24, 2011 -- IMF Survey: Iceland's Recovery: Can the Lessons Be Applied Elsewhere?
As the first country to experience the full force of the global economic crisis, Iceland is now being up as an example by some of how to overcome deep economic dislocation without undoing the social fabric.
April 15, 2011 -- IMF Survey: IMF Support Helping Restore Growth but Key Risks Ahead
A new study finds that countries which sought financial support from the IMF in late 2008, after the failure of Lehman Brothers, are experiencing a return to growth. IMF financing helped countries stabilize their economies when their access to financial markets was seriously curtailed.
October 05, 2010 -- IMF Survey: Recovery in Sight for Iceland
Iceland has made impressive progress under the IMF-supported program, reflecting strong policies that have stabilized the economy and improved debt dynamics following the crash in October 2008.
April 22, 2010 -- IMF Survey: World Must Now Focus on Financial Sector Reform, Says IMF
The international economy is recovering faster than expected from the global crisis, but the world remains a dangerous place and governments should now focus on stepping up reform of financial sector regulation to avoid future crises, says IMF Managing Director Dominique Strauss-Kahn.
October 21, 2009 -- IMF Survey: Iceland: Quiet Progress on Key Reforms
A new government has been working with quiet determination to rebuild Iceland’s crisis-hit economy in consultation with the IMF. In an interview, IMF mission chief for Iceland Mark Flanagan talks about how far the country has come since its banking crisis last October.
February 24, 2009 -- IMF Survey: IMF Backs Iceland As It Struggles with Uncertainty
The IMF is helping Iceland recover from the financial crisis. The IMF's new mission chief for Iceland, Mark Flanagan, looks at the economic challenges ahead, explains what role the IMF is playing in the restructuring of Iceland's banks, and how its money is being used.
January 14, 2009 -- IMF Survey: IMF Helping Counter Crisis Fallout in Emerging Europe
The financial crisis has hit Europe hard. In an interview, IMF European Department head Marek Belka talks about Europe's prospects for recovery and the principles that guide the Fund as it seeks to help Europe's emerging economies counter the fallout of the crisis.
December 02, 2008 -- IMF Survey: Iceland Gets Help to Recover From Historic Crisis
The IMF has approved a $2.1 billion loan to Iceland to help it recover from the financial crisis and restore confidence in its currency. The IMF's mission chief for Iceland, Poul Thomsen, talks about the crisis and Iceland's plans for dealing with the repercussions.
October 26, 2008 -- IMF Survey: IMF Set to Lend $16.5 Billion to Ukraine
The International Monetary Fund announces outline plans to lend $16.5 billion to Ukraine to support a policy package the country has assembled to maintain economic and financial stability. Ukraine's economy has been affected by the global financial turmoil and falling steel prices.
October 24, 2008 -- IMF Survey: IMF and Iceland Outline $2.1 Billion Loan Plan
The IMF announces an initial agreement with Iceland on a $2.1 billion two-year loan to support an economic recovery program to help the island restore confidence in its banking system and stabilize its currency.