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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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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RePEc (Research Papers in Economics) |
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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 |
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Iceland |
genre_facet |
Iceland |
op_relation |
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25855 |
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1796311430068174848 |