Practising what they Preach: Did the IMF and Iceland Exercise Good Governance in their Relations 2008-2011?

• Main Authors: Hjálti Ómar Ágústsson, Rachael Lorna Johnstone
• Format: Article in Journal/Newspaper
• Language: English
• Published: The University of Akureyri 2013
• Subjects: good governance; human right; Iceland; ICESCR; ICCPR; IMF; Social sciences (General); H1-99; Human ecology. Anthropogeography; GF1-900
• Online Access: https://doaj.org/article/abe917c1a7b84fb3ac4f7f56d0427edb

Between September 2008 and August 2011, the International Monetary Fund (IMF) and Iceland were engaged in cooperation under a stand-by agreement involving a loan from the IMF to Iceland of over 2bn USD. The IMF is one of a number of major international institutions that has been increasing its emphasis on good governance over the past two decades, in particular, emphasising the need for improved governance in debtor countries. In this paper, the authors review the extent to which principles of good governance were exercised in the interaction between the IMF and Iceland within the context of the stand-by programme.