17 October 2005

IMF Concludes 2005 Article IV Consultation with Iceland

On October 3, 2005, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Iceland. Following the Executive Board meeting, the Staff Report for the 2005 Article IV Consultation and the Selected Issue Papers were published on the IMF website on October 14. Iceland received a regular staff visit in June (See the Central Bank’s Press release no. 18/2005 on June 16, 2005) and the Staff Report on the current economic outlook and prospects. Four Selected Issues Papers were also completed on Simple Efficient Policy Rules and Inflation Control in Iceland; Some Illustrative Simulations of the Potential Impact of Income Tax Cuts in Iceland; Mortgage Market Developments in Iceland and the Role of the Housing Financing Fund; and Corporate Leverage: How Different is Iceland?

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 Eirikur Gudnason, Governor, or Jon Th. Sigurgeirsson, Director of the International Department of the Central Bank of Iceland, tel: +354-569-9600.

No. 32/ 2005
October 17, 2005