Statement by Jon A. Solheim, Executive Director for Iceland and Bjorn Gunmar Ólafsson, Advisor to Executive Director

International Monetary Fund

doi:10.5089/9781451819304.002.A004

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ICELAND Staff Report for the 2005 Article IV Consultation

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Volume/Issue:: 2005/367
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: October 2005
DOI:: http://dx.doi.org/10.5089/9781451819304.002
ISBN:: 9781451819304
ISSN:: 1934-7685
Page:: 57

Iceland's 2005 Article IV Consultation reports that new projects have rekindled rapid growth and the economy is exhibiting signs of overheating, with imbalances evident in inflation, the current account, and external debt. GDP grew at an average rate of 3.8 percent between 1995 and 2004, second only to Ireland among industrial countries. Major investment projects have contributed both to the high growth rate and to overall macroeconomic volatility because of their size relative to that of the economy.

Iceland: 2005 Article IV Consultation - Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Iceland

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Statement by Jon A. Solheim, Executive Director for Iceland and Bjorn Gunmar Ólafsson, Advisor to Executive Director

Author(s):: International Monetary Fund
Published Date:: October 2005

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ICELAND Staff Report for the 2005 Article IV Consultation

Statement by Jon A. Solheim, Executive Director for Iceland and Bjorn Gunmar Ólafsson, Advisor to Executive Director

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