Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement

The ex-post evaluation of Iceland’s Exceptional Access under the 2008 Stand-By Arrangement is presented. In the wake of the global financial crisis in late 2008, Iceland has experienced a deep financial and economic crisis of its own. Domestically, the rapid increase in lending fuelled bubbles in al...

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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=25855
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spelling ftrepec:oai:RePEc:imf:imfscr:12/91 2024-04-14T08:13:27+00:00 Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement International Monetary Fund http://www.imf.org/external/pubs/cat/longres.aspx?sk=25855 unknown http://www.imf.org/external/pubs/cat/longres.aspx?sk=25855 preprint ftrepec 2024-03-19T10:26:09Z The ex-post evaluation of Iceland’s Exceptional Access under the 2008 Stand-By Arrangement is presented. In the wake of the global financial crisis in late 2008, Iceland has experienced a deep financial and economic crisis of its own. Domestically, the rapid increase in lending fuelled bubbles in all asset classes, particularly the stock market and real estate. Inflated asset prices and nontransparent cross-financing and related party lending between banks and holding companies helped mask poor asset quality and facilitated the financing of credit expansion by borrowing abroad, increasing vulnerability. Banks;Debt restructuring;Financial sector;Ex post assessments;Private sector;Monetary policy;Iceland;Fiscal policy;Stand-by arrangements;banking, banking system, central bank, external debt Report Iceland RePEc (Research Papers in Economics)
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collection RePEc (Research Papers in Economics)
op_collection_id ftrepec
language unknown
description The ex-post evaluation of Iceland’s Exceptional Access under the 2008 Stand-By Arrangement is presented. In the wake of the global financial crisis in late 2008, Iceland has experienced a deep financial and economic crisis of its own. Domestically, the rapid increase in lending fuelled bubbles in all asset classes, particularly the stock market and real estate. Inflated asset prices and nontransparent cross-financing and related party lending between banks and holding companies helped mask poor asset quality and facilitated the financing of credit expansion by borrowing abroad, increasing vulnerability. Banks;Debt restructuring;Financial sector;Ex post assessments;Private sector;Monetary policy;Iceland;Fiscal policy;Stand-by arrangements;banking, banking system, central bank, external debt
format Report
author International Monetary Fund
spellingShingle International Monetary Fund
Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
author_facet International Monetary Fund
author_sort International Monetary Fund
title Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
title_short Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
title_full Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
title_fullStr Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
title_full_unstemmed Iceland; Ex Post Evaluation of Exceptional Access Under the 2008 Stand-by Arrangement
title_sort iceland; ex post evaluation of exceptional access under the 2008 stand-by arrangement
url http://www.imf.org/external/pubs/cat/longres.aspx?sk=25855
genre Iceland
genre_facet Iceland
op_relation http://www.imf.org/external/pubs/cat/longres.aspx?sk=25855
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