30 August 2007

IMF Concludes 2007 Article IV Consultation with Iceland

On August 29, the IMF published on its website (www.imf.org) the Staff Report for the 2007 Article IV Consultation with Iceland and the Selected Issues Papers. The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Iceland on August 22, 2006.

Iceland received a regular staff visit in May (See the Central Bank's Press release No. 11/2007 on June 11, 2007). The subjects of the four Selected Issues Papers were Estimating Iceland's Real Equilibrium Exchange Rate, Toward a Robust Fiscal Framework for Iceland: Motivation and Practical Suggestions, Financial Sector Developments and Risks to the Outlook and The Challenges of Globalization for Small Open Economies with Independent Currencies: Summary of Conference Proceedings.

The IMF's website also publishes Public Information Notices (PINs) announcing the publication of the Staff Report with a brief summary of the Executive Board’s discussion on it.

For further information, contact Sturla Pálsson, Director of the International and Market Operations Department of the Central Bank of Iceland, tel: +354-569-9600.

No. 14/2007
August 30, 2007