Iceland

Abstract

Cover -- Contents -- AT A GLANCE -- THE SETTING -- A. Recent Indicators -- B. Baseline Outlook -- C. Risks Around the Baseline -- MACROECONOMIC POLICIES -- A. Fiscal Policy -- B. Monetary and Exchange Rate Policy -- C. Financial Stability Policy -- FINANCIAL SECTOR OVERSIGHT -- A. Banking Oversight and Resolution -- B. Pension Fund Oversight and Conduct Regulation -- STRUCTURAL REFORMS -- A. Wage Bargaining, Education, and Competitiveness -- B. Sustainability and the Environment -- STAFF APPRAISAL -- BOXES -- 1. External Sector Assessment -- 2. The Fiscal Strategy Plan vs. IMF Staff Projections -- 3. Iceland's Financial System Ten Years After the Crisis -- FIGURES -- 1. Tourism and the Króna -- 2. Growth -- 3. Labor -- 4. Rates -- 5. Housing and Credit -- 6. External Balances -- 7. Public Debt and Ratings -- 8. Bank Financials -- 9. IMF Staff Baseline Projections -- 10. Airfares and Fuel Costs -- 11. Exports -- 12. U.K. Links -- 13. Fiscal Impulse -- 14. Public Debt -- 15. Government Spending -- 16. Inflation -- 17. Monetary Policy -- 18. Ratings and Rates -- 19. Household Sector -- 20. Corporate Sector -- 21. Banking Sector -- 22. Flows and Yield Curves -- 23. Financial Account -- 24. Policy Rates -- 25. Bank Funding -- 26. Bank Capital Adequacy -- 27. System Structure -- 28. Asset Allocation -- 29. Pension Fund Lending -- 30. Competitiveness -- 31. Education -- 32. Tourism -- 33. Fishing and Overfishing -- TABLES -- 1. Selected Economic Indicators, 2014-23 -- 2. Money and Banking, 2014-23 -- 3. Financial Soundness Indicators, 2015-18 -- 4. General Government Operations, 2014-23 -- 5. General Government Financial Balance Sheet, 2014-23 -- 6. Balance of Payments, 2014-23 -- 7. International Investment Position, 2008-17 -- ANNEXES -- I. External Debt Sustainability Analysis -- II. Public Sector Debt Sustainability Analysis.