Iceland: Fourth Post-Program Monitoring Discussions
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Summary:
This paper discusses Iceland’s Fourth Post-Program Monitoring Discussions. Iceland’s economy has grown strongly on the back of booming tourism. Real GDP grew 3.3 percent in 2013, despite a drop in investment spending. Net exports were the primary driver. High frequency indicators suggest strong net exports—including steady growth in off-season tourism—have continued in Q1 2014, along with rising private consumption. Inflation has fallen below the Central Bank of Iceland’s 2.5 percent target but long-term inflation expectations remain noticeably above this level. The government’s medium-term fiscal objectives deserve support, but further effort is needed to achieve them.
Series:
Country Report No. 2014/194
Subject:
Asset and liability management Balance of payments Banking Capital controls Debt relief External debt Foreign exchange Public debt
English
Publication Date:
July 10, 2014
ISBN/ISSN:
9781498308106/1934-7685
Stock No:
1ISLEA2014001
Pages:
63
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