Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
This paper provides an assessment of the economic conditions, outlook, and crises in Iceland. There is a mounting sense that capital controls hurt growth prospects, repressing local financial markets, scaring foreign investors, and impeding savings diversification, and that it is time for them to go...
Main Author: | |
---|---|
Format: | Report |
Language: | unknown |
Subjects: | |
Online Access: | http://www.imf.org/external/pubs/cat/longres.aspx?sk=43996 |
id |
ftrepec:oai:RePEc:imf:imfscr:16/179 |
---|---|
record_format |
openpolar |
spelling |
ftrepec:oai:RePEc:imf:imfscr:16/179 2024-04-14T08:13:22+00:00 Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland International Monetary Fund http://www.imf.org/external/pubs/cat/longres.aspx?sk=43996 unknown http://www.imf.org/external/pubs/cat/longres.aspx?sk=43996 preprint ftrepec 2024-03-19T10:26:56Z This paper provides an assessment of the economic conditions, outlook, and crises in Iceland. There is a mounting sense that capital controls hurt growth prospects, repressing local financial markets, scaring foreign investors, and impeding savings diversification, and that it is time for them to go. Recent settlements with the bank estates are a huge step forward, improving already favorable macroeconomic conditions. At 4 percent in 2015 and gaining pace, real GDP expansion is among the fastest growing in Europe, opening up a positive output gap. However, the biggest risk for Iceland is overheating. Large wage awards on top of already hot economic readings speak to Iceland’s boom-bust history. Article IV consultation reports;Economic growth;Fiscal policy;Wage bargaining;Capital account liberalization;Banking sector;Monetary policy;Bank supervision;Exchange restrictions;Debt sustainability analysis;Staff Reports;Press releases;Iceland;monetary fund, debt, markets, capital flows, investment 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 provides an assessment of the economic conditions, outlook, and crises in Iceland. There is a mounting sense that capital controls hurt growth prospects, repressing local financial markets, scaring foreign investors, and impeding savings diversification, and that it is time for them to go. Recent settlements with the bank estates are a huge step forward, improving already favorable macroeconomic conditions. At 4 percent in 2015 and gaining pace, real GDP expansion is among the fastest growing in Europe, opening up a positive output gap. However, the biggest risk for Iceland is overheating. Large wage awards on top of already hot economic readings speak to Iceland’s boom-bust history. Article IV consultation reports;Economic growth;Fiscal policy;Wage bargaining;Capital account liberalization;Banking sector;Monetary policy;Bank supervision;Exchange restrictions;Debt sustainability analysis;Staff Reports;Press releases;Iceland;monetary fund, debt, markets, capital flows, investment |
format |
Report |
author |
International Monetary Fund |
spellingShingle |
International Monetary Fund Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
author_facet |
International Monetary Fund |
author_sort |
International Monetary Fund |
title |
Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
title_short |
Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
title_full |
Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
title_fullStr |
Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
title_full_unstemmed |
Iceland; 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland |
title_sort |
iceland; 2016 article iv consultation-press release; staff report; and statement by the executive director for iceland |
url |
http://www.imf.org/external/pubs/cat/longres.aspx?sk=43996 |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
http://www.imf.org/external/pubs/cat/longres.aspx?sk=43996 |
_version_ |
1796311333860278272 |