Iceland: Staff Report for the 2012 Article IV Consultation and First Post- Program Monitoring Discussion
Electronic Access:
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Summary:
The 2012 Article IV Consultation reports that Iceland’s fiscal consolidation is continuing, but at a slower pace. Moderate expenditure overruns materialized in 2011, which will partly spill over to 2012 and the medium term. A key priority is to put the medium-term fiscal path back on track, which can be achieved with additional fiscal measures of ½ percent of GDP. Lifting the capital controls remains an overarching policy challenge, given the significant locked-in funds.
Series:
Country Report No. 2012/089
Subject:
Balance of payments Banking Capital controls External debt Financial institutions Fiscal stance Income Loans National accounts Public debt
English
Publication Date:
April 12, 2012
ISBN/ISSN:
9781475503111/1934-7685
Stock No:
1ISLEA2012002
Pages:
69
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