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Iceland
Iceland: The financial and economic crisis16-Oct-2009 The global financial and economic crisis has struck Iceland with extreme force. Iceland’s three main banks, accounting for almost all of the banking system, failed in October 2008. They were unable to resist the deterioration in global financial markets following the failure of Lehman Brothers. |
Iceland: Challenging times for monetary and fiscal policies16-Oct-2009 Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have increased; and the unemployment insurance fund has been nearly depleted. |
Economic Survey of Iceland 200902-Sep-2009 Iceland has entered its deepest recession in decades following the collapse of its major banks. They had pursued risky strategies, making them vulnerable in the global financial crisis. The authorities have adopted a stabilisation programme supported by an IMF Stand-By Arrangement. The crisis has highlighted the need to improve prudential supervision and the potential advantages of joining the euro area, which would enable Iceland to share the benefits of the ECB’s credibility. |
Briefing note for OECD Health Data 2009: How Does Iceland Comparepdf,107Kb,English | View long abstract 01-Jul-2009 Total health spending accounted for 9.3% of GDP in Iceland in 2007, above the OECD average of 8.9%. Related documents: |
OECD Economic Outlook No. 85 - Icelandpdf,28Kb,English | View long abstract 24-Jun-2009 Summary of economic developments and projections for Iceland taken from the latest OECD Economic Outlook. Also available:Related documents: |
Bermuda signs eight new tax information agreements17-Apr-2009 Bermuda has signed 8 new tax information exchange agreements, with 7 Nordic economies – Denmark, Sweden, Finland, Greenland, Iceland, Norway and the Faroe Islands, and with New Zealand, bringing to 11 the number of such agreements it has entered into. |
