|
|
|
21-Jun-2011
The foundations of Iceland’s successful fisheries management system are scientifically-based TACs and the ITQ system. It is important that these features are not weakened by potential policy responses to the perceived unfairness of quotas initially having been given away or EU accession negotiations.
|
|
21-Jun-2011
Iceland is slowly recovering from a deep recession following its banking crisis. Reforms to restore the financial sector to health and fiscal consolidation are laying the foundations for durable growth but need to be taken further according to a new OECD report.
|
|
21-Jun-2011
Expenditure on activation programmes has been boosted to cope with the large increase in long-term unemployment. The government has expanded access to the education system to complete secondary education and should better align jobs skills training programmes with labour market requirements.
|
|
21-Jun-2011
Output has finally stabilised following the severe recession, but real GDP lingers 11% below its peak. Domestic demand has levelled off, but a consumption and business-led recovery is projected to lift economic growth to 3% by 2012.
|
|
21-Jun-2011
Financial sector restructuring has been achieved in a way that limits fiscal costs and strengthens market discipline. Prudential regulation and supervision are being reformed to overcome the shortcomings exposed by the crisis and steps are being taken to accelerate private-sector debt restructuring.
|
|
21-Jun-2011
The central bank favours returning to flexible inflation targeting but with an active foreign-exchange intervention policy and more co-ordination with fiscal and prudential policy. This approach should enhance inflation control but care will be needed to avoid exchange-rate losses.
|
|
21-Jun-2011
To restore Iceland’s public finances to a sustainable path, the government is implementing a fiscal consolidation programme agreed with the IMF that aims for a small budget surplus by 2013. Institutional reforms to strengthen fiscal discipline should be taken further by adopting fiscal rules.
|
|
14-Jun-2011
The Indian economy has been catching up quickly in the past two decades, and weathered the global recession well. With further reforms, growth could reach double-digit rates.
|
|
17-May-2011
Improvements in the macroeconomic policy framework prudent regulation of the financial system have contributed to reduce output volatility in Mexico. Policy improvements could help reduce output volatility further.
|
|
17-May-2011
A long-term and broad-based strategy with education at its core is needed for Mexico to reach its productivity potential and fight informality. This would include lowering the costs of formality, while enhancing its benefits and increasing the cost of non-compliance with labour and tax laws.
|
|
|
