{
  "title": "Iceland: Staff Report for Second Review Under Stand-By Arrangement and Request for Extension of the Arrangement, Rephasing of Access and Establishment of Performance Criteria.",
  "publication": "IMF Staff Country Reports, April 21, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/index.md",
  "summary": "This report discusses Iceland’s Second Review under the Stand-By Arrangement and Request for Extension of the Arrangement. Supportive fiscal policies have helped consumption hold up better than expected, while the external sector has benefited from currency depreciation and higher commodity prices.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: April 21, 2010\n- This report covers Iceland’s Second Review under the Stand-By Arrangement and Request for Extension of the Arrangement.\n- Central finding: Supportive fiscal policies have helped consumption hold up better than expected.\n- External sector developments highlighted: benefits from currency depreciation and higher commodity prices.\n- Noted: overall improvements in inflation and the trade and current account balances since the late 2008 crisis have been striking."
    },
    {
      "heading": "Macroeconomic developments and external sector",
      "content": "- Fiscal policy: Supportive fiscal policies correlated with stronger-than-expected consumption.\n- External sector effects:\n  - Currency depreciation supported external adjustment.\n  - Higher commodity prices contributed positively to the external sector.\n- Post-crisis adjustments: Significant improvements in inflation, trade balance, and current account balance since the late 2008 crisis."
    },
    {
      "heading": "Sentiment and expectations",
      "content": "- Consumer indicators:\n  - Indicators suggest firming consumer sentiment.\n  - Inflation expectations are described as stable.\n- Business indicators:\n  - Business sentiment remains weak."
    },
    {
      "heading": "Scope, subjects, and keywords",
      "content": "- Subjects covered: Asset and liability management; Banking; Debt restructuring; External debt; Financial institutions; Loans; National accounts; Private debt; Public debt.\n- Keywords: CR, crisis, Debt restructuring, deficit, deficit adjustment, Dominique Strauss-Kahn, economy of Iceland, Iceland's economy, Iceland's effort, inflation expectation, ISCR, Loans, Private debt, savings bank.\n\n---\n\n Content in this bundle\n\n- cr1095\n  - cr1095 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1095 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/bundle-manifest.json)",
    "Authors: Arrangement, Request",
    "Published: April 21, 2010",
    "Series: IMF Staff Country Reports",
    "Publication date: April 21, 2010",
    "This report covers Iceland’s Second Review under the Stand-By Arrangement and Request for Extension of the Arrangement.",
    "Central finding: Supportive fiscal policies have helped consumption hold up better than expected.",
    "External sector developments highlighted: benefits from currency depreciation and higher commodity prices.",
    "Noted: overall improvements in inflation and the trade and current account balances since the late 2008 crisis have been striking.",
    "Fiscal policy: Supportive fiscal policies correlated with stronger-than-expected consumption.",
    "External sector effects:",
    "Post-crisis adjustments: Significant improvements in inflation, trade balance, and current account balance since the late 2008 crisis.",
    "Consumer indicators:",
    "Business indicators:",
    "Subjects covered: Asset and liability management; Banking; Debt restructuring; External debt; Financial institutions; Loans; National accounts; Private debt; Public debt.",
    "Keywords: CR, crisis, Debt restructuring, deficit, deficit adjustment, Dominique Strauss-Kahn, economy of Iceland, Iceland's economy, Iceland's effort, inflation expectation, ISCR, Loans, Private debt, savings bank.",
    "**_cr1095**"
  ],
  "related": [
    {
      "title": "_cr1095",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1095.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1095.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1095.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/iceland-staff-report-for-second-review-under-stand-by-arrangement-and-request-for-extension-23806/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-14T12:27:53.131Z"
}