Iceland : 2010 Article IV Consultation and Third Review under Stand-By Arrangement and Request for Modification of Performance Criteria-Staff Report ; Staff Supplement ; Public Information Notice and Press Release on the Executive Board Discussion ; and Statement by the Executive Director for Iceland
Iceland's gross external debt rose above 600 percent of GDP, while households and corporations accumulated heavy debt burdens with large exposures to foreign exchange and inflation risk. The global banking crisis exposed Iceland's vulnerabilities, triggering a balance-of-payments crisis, a...
Corporate Author: | |
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Format: | Book |
Language: | English |
Published: |
Washington, D.C. :
International Monetary Fund,
2010
Washington, D.C. : 2010 |
Series: | IMF Staff Country Reports ;
Country Report No. 10/305 IMF Staff Country Reports ; Country Report no. 10/305 IMF Staff Country Reports; Country Report ; No. 2010/305 IMF eLibrary |
Subjects: |
Summary: | Iceland's gross external debt rose above 600 percent of GDP, while households and corporations accumulated heavy debt burdens with large exposures to foreign exchange and inflation risk. The global banking crisis exposed Iceland's vulnerabilities, triggering a balance-of-payments crisis, a collapse of the exchange rate and output, and the failure of financial and many nonfinancial firms. The importance of accelerating the restructuring of banks' operations and balance sheets and also policy frameworks has been stressed. The downward trend in inflation is welcomed Iceland’s gross external debt rose above 600 percent of GDP, while households and corporations accumulated heavy debt burdens with large exposures to foreign exchange and inflation risk. The global banking crisis exposed Iceland’s vulnerabilities, triggering a balance-of-payments crisis, a collapse of the exchange rate and output, and the failure of financial and many nonfinancial firms. The importance of accelerating the restructuring of banks’ operations and balance sheets and also policy frameworks has been stressed. The downward trend in inflation is welcomed |
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Item Description: | Available in PDF, ePUB, and Mobi formats on the Internet Description based upon print version of record Part of the IMF eLibrary collection |
Physical Description: | 1 online resource (100 p.) 1 online resource (99 pages) |
ISBN: | 1-283-55533-6 1-4552-2686-6 1-4552-7186-1 1-4552-9709-7 1455208558 1455208558: 9781455208555 9786613867780 |
ISSN: | 1934-7685 2227-8907 |
Access: | Restricted for use by site license Restricted for use by site license. |