Iceland: Staff Report for the 2005 Article IV Consultation
October 14, 2005
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Iceland’s 2005 Article IV Consultation reports that new projects have rekindled rapid growth and the economy is exhibiting signs of overheating, with imbalances evident in inflation, the current account, and external debt. GDP grew at an average rate of 3.8 percent between 1995 and 2004, second only to Ireland among industrial countries. Major investment projects have contributed both to the high growth rate and to overall macroeconomic volatility because of their size relative to that of the economy.
Subject: External debt, Financial institutions, Prices
Keywords: CR, data ROSC exercise, deficit, GDP, Housing prices, Inflation, inflation prospect, inflation stabilization task, inflation-targeting monetary policy framework, investment project, ISCR, loan, Loans, monetary policy, monetary policy meeting, monetary policy stance, mortgage credit condition, Mortgages, state telecommunication company, tolerance range
Pages:
57
Volume:
2005
DOI:
Issue:
367
Series:
Country Report No. 2005/367
Stock No:
1ISLEA2005002
ISBN:
9781451819304
ISSN:
1934-7685
