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

Publication Date: August 07, 2013
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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(s): Article IV consultation reports | Economic recovery | Financial sector | Monetary policy | Capital controls | Fiscal policy | Private sector | Debt restructuring | Economic indicators | Post-program monitoring | Staff Reports | Press releases | Iceland

Publication Date: August 07, 2013
ISBN/ISSN: 9781475558401/1934-7685 Format: Paper
Stock No: 1ISLEA201300 Pages: 63
US$18.00 (Academic Rate:
US$18.00 )
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