IMF‘s Article IV report on Iceland published
The IMF‘s annual Article IV report on the Icelandic economy was published today. Regular reports on the status and prospects of the economies of IMF member countries are issued on the basis of Article IV of the IMF‘s Articles of Agreement.
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Minutes of the Financial Stability Committee meeting of June 2024
The minutes of the Central Bank of Iceland Financial Stability Committee’s (FSN) meeting held on 4 and 5 June 2024 have been published.
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Monetary Policy Committee report to Parliament
The Central Bank of Iceland Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H1/2024 has been posted on the Bank’s website.
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Adjusted balance of payments figures
Balance of payments figures published on 4 June 2024 have been corrected. The correction, which pertains to one of the components of the current account balance – more specifically, the primary income balance for Q1/2024 – affects the current account deficit. According to the new figures, the deficit is 4.9 b.kr. smaller than previously estimated. The adjusted current account surplus is therefore 35.9 b.kr., as compared with the previously published 40.8 b.kr.
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Statement of the Financial Stability Committee of the Central Bank of Iceland 5 June 2024
The Icelandic financial system is on a solid footing. The systemically important banks’ capital and liquidity are strong, and they have ready access to funding. Arrears are still at a low level despite high interest rates. It is well to bear in mind, however, that persistent inflation concurrent with weaker economic activity will present challenges for the financial system in the coming term.
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