The IMF, the Credit Crunch and Iceland
Iceland was badly hit by a fundamental mismatch between the assets and international liabilities of her banking system, with severe consequences for the welfare of the population. The country now has an International Monetary Fund programme. The paper asks three questions of the programme: Is it too...
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ftrepec:oai:RePEc:wej:wldecn:384 2023-05-15T16:44:32+02:00 The IMF, the Credit Crunch and Iceland Sheetal K. Chand http://www.world-economics-journal.com/Contents/ArticleOverview.aspx?ID=384 unknown http://www.world-economics-journal.com/Contents/ArticleOverview.aspx?ID=384 article ftrepec 2020-12-04T13:33:17Z Iceland was badly hit by a fundamental mismatch between the assets and international liabilities of her banking system, with severe consequences for the welfare of the population. The country now has an International Monetary Fund programme. The paper asks three questions of the programme: Is it too tight? Is the balance of payment’s target appropriate? How will the country cope with the potentially huge transfer problem associated with the now frozen external liabilities of the failed Icelandic banks? The paper notes several problems, and argues that an appropriately structured and expanded fiscal policy is needed, together with burden sharing between Iceland and the international community. Article in Journal/Newspaper Iceland RePEc (Research Papers in Economics) |
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Iceland was badly hit by a fundamental mismatch between the assets and international liabilities of her banking system, with severe consequences for the welfare of the population. The country now has an International Monetary Fund programme. The paper asks three questions of the programme: Is it too tight? Is the balance of payment’s target appropriate? How will the country cope with the potentially huge transfer problem associated with the now frozen external liabilities of the failed Icelandic banks? The paper notes several problems, and argues that an appropriately structured and expanded fiscal policy is needed, together with burden sharing between Iceland and the international community. |
format |
Article in Journal/Newspaper |
author |
Sheetal K. Chand |
spellingShingle |
Sheetal K. Chand The IMF, the Credit Crunch and Iceland |
author_facet |
Sheetal K. Chand |
author_sort |
Sheetal K. Chand |
title |
The IMF, the Credit Crunch and Iceland |
title_short |
The IMF, the Credit Crunch and Iceland |
title_full |
The IMF, the Credit Crunch and Iceland |
title_fullStr |
The IMF, the Credit Crunch and Iceland |
title_full_unstemmed |
The IMF, the Credit Crunch and Iceland |
title_sort |
imf, the credit crunch and iceland |
url |
http://www.world-economics-journal.com/Contents/ArticleOverview.aspx?ID=384 |
genre |
Iceland |
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Iceland |
op_relation |
http://www.world-economics-journal.com/Contents/ArticleOverview.aspx?ID=384 |
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1766034810303676416 |