Iceland: Greadual recovery continues but legacy risks remain

Unfavourable economic structure plagues Iceland's economy at the moment. Recovery to continue at a moderate pace.

Fiscal consolidation has slowed and considerable risk persists. Monetary policy prioritises currency stability but exchange rate risk remains.

Capital account controls will remain in place for some time. The country's banking sector remains vulnerable.

Current account deficit is narrowinga and external debt remains very high.

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iceland-country-report-dec13.pdf

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