Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland

This paper examines key findings of Iceland’s Request for a Stand-By Arrangement from the IMF. Iceland’s economy is in the midst of a banking crisis of extraordinary proportions that is expected to lead to a deep recession, a sharp rise in the fiscal deficit, and a dramatic surge in public sector de...

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Main Author: International Monetary Fund
Format: Report
Language:unknown
Subjects:
Iceland
Online Access:http://www.imf.org/external/pubs/cat/longres.aspx?sk=22513
id ftrepec:oai:RePEc:imf:imfscr:08/362
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spelling ftrepec:oai:RePEc:imf:imfscr:08/362 2024-04-14T08:13:32+00:00 Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland International Monetary Fund http://www.imf.org/external/pubs/cat/longres.aspx?sk=22513 unknown http://www.imf.org/external/pubs/cat/longres.aspx?sk=22513 preprint ftrepec 2024-03-19T10:26:43Z This paper examines key findings of Iceland’s Request for a Stand-By Arrangement from the IMF. Iceland’s economy is in the midst of a banking crisis of extraordinary proportions that is expected to lead to a deep recession, a sharp rise in the fiscal deficit, and a dramatic surge in public sector debt, reflecting a high fiscal cost of restructuring the banking system. The virtual collapse of the on-shore foreign exchange market poses a serious and immediate risk to the economy considering its high import dependence. Budget deficits;Banking crisis;Bank restructuring;Announcements;Exchange rate depreciation;Economic indicators;Fiscal consolidation;Fiscal sustainability;Public debt;Staff Reports;Stand-by arrangement requests;debt, central bank, interest, external debt, public sector Report Iceland RePEc (Research Papers in Economics)
institution Open Polar
collection RePEc (Research Papers in Economics)
op_collection_id ftrepec
language unknown
description This paper examines key findings of Iceland’s Request for a Stand-By Arrangement from the IMF. Iceland’s economy is in the midst of a banking crisis of extraordinary proportions that is expected to lead to a deep recession, a sharp rise in the fiscal deficit, and a dramatic surge in public sector debt, reflecting a high fiscal cost of restructuring the banking system. The virtual collapse of the on-shore foreign exchange market poses a serious and immediate risk to the economy considering its high import dependence. Budget deficits;Banking crisis;Bank restructuring;Announcements;Exchange rate depreciation;Economic indicators;Fiscal consolidation;Fiscal sustainability;Public debt;Staff Reports;Stand-by arrangement requests;debt, central bank, interest, external debt, public sector
format Report
author International Monetary Fund
spellingShingle International Monetary Fund
Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
author_facet International Monetary Fund
author_sort International Monetary Fund
title Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
title_short Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
title_full Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
title_fullStr Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
title_full_unstemmed Iceland; Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iceland
title_sort iceland; request for stand-by arrangement: staff report; staff supplement; press release on the executive board discussion; and statement by the executive director for iceland
url http://www.imf.org/external/pubs/cat/longres.aspx?sk=22513
genre Iceland
genre_facet Iceland
op_relation http://www.imf.org/external/pubs/cat/longres.aspx?sk=22513
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