{
  "title": "Iceland: 2019 Article IV Consultation-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, December 19, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/12/19/iceland-2019-article-iv-consultation-press-release-and-staff-report-48891",
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  "summary": "This 2019 Article IV Consultation with Iceland discusses that after years of robust growth, economic activity has significantly weakened.",
  "sections": [
    {
      "heading": "Macroeconomic developments and findings",
      "content": "- After years of robust growth, economic activity has significantly weakened.\n- Supply disruptions in tourism, the engine of recent growth, and the associated uncertainty have triggered a drop in domestic demand and an increase in unemployment.\n- A moderate but fragile growth recovery is expected in 2020."
    },
    {
      "heading": "Policy response and assessment",
      "content": "- A swift policy response, with fiscal relaxation and monetary easing, has stabilized expectations and cushioned the effects.\n- Macroprudential measures are helping to preserve buffers for managing financial stability risks.\n- Macroprudential policies are assessed as adequate, given still elevated household debt and real-estate prices and benign external financing conditions.\n- Looking forward, the macroprudential toolkit could be expanded to contain potential risks in the loan portfolio over the medium term."
    },
    {
      "heading": "Structural recommendations and strategic priorities",
      "content": "- Ongoing education reforms would boost human capital and productivity.\n- Greater transparency of large unlisted companies would preserve the business environment.\n- Strategic policies in tourism and fisheries would protect the sustainability of traditional economic sectors."
    },
    {
      "heading": "Subjects, keywords, and publication metadata",
      "content": "- Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, External debt, Fiscal policy, Government finance statistics, Income, National accounts, Public debt\n- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), CR, Global, gross domestic product, IMF staff country, Income, inflation expectation, ISCR, policy, policy accountability, Policy space\n- Pages: 65\n- Volume: 2019\n- Issue: 375\n- Series: Country Report No. 2019/375\n- DOI: https://doi.org/10.5089/9781513523651.002\n- Stock No: 1ISLEA2019001\n- ISBN: 9781513523651\n- ISSN: 1934-7685\n- Publication date on landing page: December 19, 2019\n\nInternational Monetary Fund. Iceland: 2019 Article IV Consultation-Press Release and Staff Report.\n\n---\n\n Content in this bundle\n\n- 1islea2019001\n  - 1islea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1islea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 19, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513523651.002",
    "After years of robust growth, economic activity has significantly weakened.",
    "Supply disruptions in tourism, the engine of recent growth, and the associated uncertainty have triggered a drop in domestic demand and an increase in unemployment.",
    "A moderate but fragile growth recovery is expected in 2020.",
    "A swift policy response, with fiscal relaxation and monetary easing, has stabilized expectations and cushioned the effects.",
    "Macroprudential measures are helping to preserve buffers for managing financial stability risks.",
    "Macroprudential policies are assessed as adequate, given still elevated household debt and real-estate prices and benign external financing conditions.",
    "Looking forward, the macroprudential toolkit could be expanded to contain potential risks in the loan portfolio over the medium term.",
    "Ongoing education reforms would boost human capital and productivity.",
    "Greater transparency of large unlisted companies would preserve the business environment.",
    "Strategic policies in tourism and fisheries would protect the sustainability of traditional economic sectors.",
    "Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, External debt, Fiscal policy, Government finance statistics, Income, National accounts, Public debt",
    "Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), CR, Global, gross domestic product, IMF staff country, Income, inflation expectation, ISCR, policy, policy accountability, Policy space",
    "Pages: 65",
    "Volume: 2019",
    "Issue: 375",
    "Series: Country Report No. 2019/375",
    "DOI: https://doi.org/10.5089/9781513523651.002",
    "Stock No: 1ISLEA2019001",
    "ISBN: 9781513523651",
    "ISSN: 1934-7685",
    "Publication date on landing page: December 19, 2019",
    "**1islea2019001**"
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